Anika Therapeutics initiated with a Buy at B. Riley

B. Riley analyst Anderson Schock initiated coverage of Anika Therapeutics (ANIK) with a Buy rating and $21 price target The company leverages its 30 years of hyaluronic acid production to develop and commercialize products in the osteoarthritis pain management and regenerative solutions spaces, the analyst tells investors in a research note. The firm says the osteoarthritis pain management business provides strong profitability and cash flow to fund the development of the company’s regenerative solutions portfolio. It expects Anika’s regenerative solutions product launches to be the main drivers of growth and margin expansion going forward.