Craig-Hallum downgrades Sientra to Hold, lowers price target to $2

As previously reported, Craig-Hallum downgraded Sientra to Hold from Buy with a price target of $2, down from $10. Sientra reported a triplet of negative news, with a Q3 sales miss, 2023 guidance terminated, and saying it is exploring strategic alternatives, the firm says. While Craig-Hallum acknowledges that strategic alternatives could achieve a better outcome, it believes uncertainty will linger.