- Earlier this week, Cutera Inc (NASDAQ:CUTR) reported interim FY22 sales of $252 million to $253 million for full-year 2022, growing 15% to 16% over the prior year on a constant currency basis versus prior guidance of $255 million to $260 million, missing the consensus of $259 million.
- Cantor Fitzgerald has downgraded the stock rating on CUTR to Neutral from Overweight and lowered the price target to $33 from $85.
- The analyst said to be moving to the sidelines on CUTR’s stock until macro headwinds (recessionary environment, FX) that it thinks will impact the company’s business subsides and/or management can demonstrate that it can continue to grow the business through a down cycle.
- The analyst will reassess its investment thesis after the company releases full results for 4Q22 and 2022 on 28 February.
- Price Action: CUTR shares are down 7.47% at $27.60 on the last check Wednesday.
Macro Factors Take a Toll on Cutera Earnings, Analyst Slashes Price Target by 61%
Earlier this week, Cutera Inc (NASDAQ:CUTR) reported interim FY22 sales of $252 million to $253 million for full-year 2022, growing 15% to…
Related Posts
Sorrento Releases Topline Results From The Phase I Study Completed In Australia And Preliminary Results From A Phase Ib Study In China With STI-1558, An Oral M(pro) Inhibitor As A Standalone Treatment For COVID-19 Without The Need For Ritonavir Boostin…
Topline safety and pharmacokinetic (PK) data from the Phase I single ascending dose (SAD)/multiple ascending dose (MAD) study of STI-1558 in 58 healthy volunteers in Australia are now available. The SAD portion of the
Read Why Demand For Pfizer’s COVID-19 Antiviral Therapy Is Unexpectedly Low: Reuters
Global demand for Pfizer Inc's (NYSE: PFE) Paxlovid has been unexpectedly light due to complicated eligibility requirements, reduced testing, and potential for drug interactions, a
Coca-Cola CEO Says Consumers Will Never Drink The Same Product Forever
Coca-Cola Co (NYSE:KO) started off selling just one product in one size to one market more than 100…