Treace Medical downgraded to Underweight from Neutral at JPMorgan

JPMorgan analyst Lilia-Celine Lozada downgraded Treace Medical (TMCI) to Underweight from Neutral with a price target of $5, down from $8. The company’s earnings update is “disappointing” as the better than expected quarter was overshadowed by a reset to guidance as softness in the foot and ankle market, a shift away from Lapiplasty, and a mix headwind from new launches are set to pressure revenues in the near-term, the analyst tells investors in a research note. The firm sees multiple headwinds pressuring Treace Medical’s near-term growth “and no clear timing of resolution.”