Minerva Surgical price target lowered to $3 from $20 at Piper Sandler

Piper Sandler analyst Matt O’Brien lowered the firm’s price target on Minerva Surgical to $3 from $20, adjusted for the 1-for-20 reverse stock split, and keeps an Overweight rating on the shares. The firm notes Minerva reported Q3 results that missed on the top-line due to decreasing Miverva ES sales. Symphion, however, delivered robust sales growth and Piper continues to believe it can garner additional market share moving forward.