Tela Bio price target lowered to $4 from $7 at Canaccord

Canaccord lowered the firm’s price target on Tela Bio (TELA) to $4 from $7 and keeps a Buy rating on the shares. The firm said they posted a challenged Q3 as it missed top-line expectations and lowered full-year guidance, though it reiterated confidence in its commercial strategy and sales force structure as recent hires Jeffrey Blizzard and Jim Hagen from Abiomed (ABMD) become increasingly important pieces to the Tela Bio story.