Nevro downgraded to Underweight from Neutral at JPMorgan

JPMorgan downgraded Nevro to Underweight from Neutral without a price target. Nevro reported worse than expected Q2 results and lowered full-year guidance on the top- and bottom-line, the analyst tells investors in a research note. The firm says the company is experiencing continued challenges in its core spinal cord stimulation market alongside ramping competitive trialing, which is assumed to persist over the course of the year. It sees a lack of visibility into the revenue potential for Vyrsa, and notes competitive headwinds showing no signs of slowing.