SI-Bone price target lowered to $25 from $32 at Needham

Needham lowered the firm’s price target on SI-Bone to $25 from $32 but keeps a Buy rating on the shares. The company reported a “strong” Q3 earnings beat as active surgeons were up double-digits sequentially in a seasonally weak quarter, suggesting SI-Bone is seeing broad-based traction across its portfolio, the analyst tells investors in a research note. The firm adds however that its reduced price target reflects lower peer multiples.