Koru Medical price target lowered to $3.00 from $4.50 at Piper Sandler

Piper Sandler lowered the firm’s price target on Koru Medical to $3.00 from $4.50 and keeps an Overweight rating on the shares. The company’s preliminary Q2 revenue missed expectations and trimmed its FY23 revenue guidance while also announcing CFO Andy LaFrence has resigned from the company, the analyst tells investors in a research note. These are “tough” updates for a business that had been moving along the right financial path, the firm says.