Tela Bio price target lowered to $5 from $7 at Citizens JMP

Citizens JMP lowered the firm’s price target on Tela Bio (TELA) to $5 from $7 and keeps an Outperform rating on the shares. Quarterly sales were shy of the Street by about 5%, reflecting several meaningful highlights, such as strong international sales and the addition of new customers, the analyst tells investors in a research note. The cons outweighed the pros, and management lowered its top-line guidance by 9% year over year, the firm adds.