Anika Therapeutics price target lowered to $20 from $25 at Barrington

Barrington lowered the firm’s price target on Anika Therapeutics (ANIK) to $20 from $25 and keeps an Outperform rating on the shares. Anika management reduced its previous adjusted EBITDA guidance for FY25, which had previously been forecast to be a double-digit margin but is now expected to be 8-10%, with pricing weakness in osteoarthritis pain management in the U.S. appearing to be the primary reason for the lowered outlook, the analyst tells investors.