JMP Securities lowered the firm’s price target on Paragon 28 to $23 from $30 and keeps an Outperform rating on the shares following the company’s release of Q3 results. Total sales were $52.8M, north of consensus of $52.1M and the firm’s $51.3M estimate, with additional operating leverage accruing on the bottom line. Importantly, the company also signed a new $150M credit facility, which should provide ample liquidity to get Paragon 28 well past break-even, JMP says.
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Read More on FNA:
- Paragon 28 price target lowered to $14 from $25 at Canaccord
- Paragon 28 backs FY23 revenue view of $214M-$218M, consensus $217.4M
- Paragon 28 reports Q3 adjusted EBITDA ($1.2M) vs. ($2.7M) last year
- Paragon 28 price target lowered to $28 from $32 at B. Riley
- Paragon 28 price target lowered to $12 from $25 at BofA
