Maxim lowered the firm’s price target on Tenon Medical (TNON) to $8 from $22 but keeps a Buy rating on the shares. The company’s Q3 revenue missed on unforeseen reimbursement headwinds, but the firm remains positive about Tenon’s steps toward commercializing its Catamaran System technology, noting that encouraging interim data from its flagship clinical trial provides an important tool in pursuing improved payor reimbursement, which is “essential for broader market adoption”, the analyst tells investors in a research note.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on TNON:
- Tenon Medical’s Q3 2024 Earnings and Strategic Progress
- Tenon Medical reports Q3 EPS ($3.63), consensus ($4.23)
- TNON Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Tenon Medical regains full compliance with Nasdaq listing rules
- Tenon Medical files to sell 2.45M shares of common stock for holders
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue