Sanuwave Health price target lowered to $53 from $55 at Roth Capital

Roth Capital analyst Kyle Bauser lowered the firm’s price target on Sanuwave Health (SNWV) to $53 from $55 and keeps a Buy rating on the shares. The firm cites the company’s below-consensus Q3 pre-announcement, which was also below the previous guidance range and primarily attributed to uncertainty around the proposed reimbursement changes for skin substitutes/grafts, the analyst tells investors in a research note. Roth adds however that it remains positive on the stock, particularly on any weakness in shares. In pre-market trading, Sanuwave is down 17% at $34.00.