Treace Medical price target lowered to $17 from $23 at BTIG

BTIG analyst Ryan Zimmerman lowered the firm’s price target on Treace Medical to $17 from $23 but keeps a Buy rating on the shares. The analyst cites the company’ Q3 earnings miss and guidance cut, also stating following Q2, investors had concerns that the implied step-up into Q4 would prove challenging. The pipeline at Treace Medical “remains robust” heading into FY24 however, the firm tells investors in a research note, also citing a rebound in key metrics such as ASPs and productivity per physicians.