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Apyx Medical price target lowered to $3 from $12 at Piper Sandler
The Fly

Apyx Medical price target lowered to $3 from $12 at Piper Sandler

Piper Sandler analyst Matt O’Brien lowered the firm’s price target on Apyx Medical to $3 from $12 and keeps an Overweight rating on the shares. Apyx "provided a poor update on the business across the board" with a Q3 miss, guide down, and "Going Concern" language in its upcoming SEC filing due to its need for additional capital, O’Brien tells investors in a research note. The analyst says the lingering impact of the FDA safety notification continues to hamper sales results, and that he suspects it will remain a "knife-fight" for the company to convince clinicians that its technology is the best therapy to use in numerous cases. However, "a pathway to improve utilization exists," contends O’Brien, who remains constructive on Apyx shares following the meaningful pullback today.

Published first on TheFly

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