Cutera upgraded to Neutral at Piper after CEO appointment

Piper Sandler analyst Matt O’Brien upgraded Cutera (CUTR) to Neutral from Underweight with a price target of $18, up from $14, after the company announced that Taylor Harris has been appointed CEO, effective August 7. Harris previously served as CFO of MyoKardia until its sale to Bristol-Myers (BMY), as well as having previously held the CFO role at ZELTIQ Aesthetics and Thoratec Corporation, notes the firm, which view the appointment “very favorably.” However, while Piper believes this announcement “will breathe life back into the story,” it adds that “there is much work for Mr. Harris to do,” which will take time.