Paragon 28, Inc. (NYSE: FNA) saw its stock price surge 5.1% in Friday's intraday trading session, following the release of its impressive third-quarter results and analysts' positive outlook for the company.

The medical device company reported better-than-expected revenue of $62 million, beating analysts' forecasts by 2.9%. Additionally, Paragon 28's earnings loss of $0.15 per share was narrower than anticipated, outperforming estimates by 3.8%.

Analysts have responded favorably to the company's performance, with the consensus price target of $14.40 implying further upside potential. Notably, some analysts have set bullish price targets as high as $20 per share, indicating confidence in Paragon 28's growth prospects.