Vicarious Surgical price target lowered to $1.50 from $4 at Piper Sandler

Piper Sandler lowered the firm’s price target on Vicarious Surgical to $1.50 from $4 and keeps a Neutral rating on the shares. The firm notes Vicarious Surgical announced Q3 results with EPS coming in two pennies ahead of the Street. A majority of the call focused on the company’s pipeline update where Vicarious disclosed some integration challenges and cost-cutting initiatives have delayed completion of the Version 1.0 system build. The company remains confident in its long-term prospects, and Piper remains enthusiastic about the highly differentiated technology. However, the regulatory delay and corresponding revenue pushout keeps the firm on the sidelines for now.