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.
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Read More on TNON:
- Tenon Medical’s Q3 2024 Earnings and Strategic Progress
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- Tenon Medical regains full compliance with Nasdaq listing rules
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