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Fly News Breaks for June 20, 2018
ANIK
Jun 20, 2018 | 04:54 EDT
First Analysis analyst Joseph Munda downgraded Anika Therapeutics to Equal-Weight and lowered his price target for the shares to $34 from $45. Following last night's Phase III data, the analyst believes a 2019 approval for Cingal is now off the table. Munda sees a heightened level of uncertainty for not only Cingal but also for the other products in the pipeline, including Hyalofast, and the company's future go-direct strategy.
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