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See Why Did Stifel, Maxim Cut Price Target On Sientra After Q4 Earnings

Published 24/03/2022, 16:04
© Reuters.  See Why Did Stifel, Maxim Cut Price Target On Sientra After Q4 Earnings
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Maxim (NASDAQ:MXIM) lowered the price target on Sientra Inc (NASDAQ: SIEN) to $7 from $13 but kept a Buy rating on the stock.

  • Analyst Anthony Vendetti notes that the Company's Q4 revenue was in-line with its pre-announcement in January, but gross margin was below expectations.
  • Vendetti adds that the lower price target also reflects industry-wide compression, though he remains positive on Sientra's above-peer growth in the breast products market.
Stifel has also lowered the price target on Sientra to $7 from $11 and with Buy rating unchanged.

  • Analyst Jonathan Block says that though initial 2022 revenue guidance is slightly below his estimate and the Street view, he believes management is taking a conservative approach.
  • Block added that he likes the strategic direction that Sientra is headed. The Company focuses on the long-term opportunity in the reconstruction market, where he notes that pricing is more favorable relative to augmentation.
  • Earnings: Sientra reported Q4 FY21 sales of $22.6 million, +26.6% Y/Y, beating the consensus of $21.48 million.
  • It reported EPS loss of $(0.27) down from (0.40) a year ago and missing the consensus of $(0.19).
  • Guidance: For FY22, the Company expects sales of $93 million - $97 million, versus the consensus of $96.01 million.
  • Earlier today, Health Canada approved Sientra's line of smooth surface, High-Strength Cohesive (HSC and HSC+) silicone gel breast implants.
  • Sientra will market its breast implants in Canada through its local partner Kai Aesthetic.
  • Price Action: SIEN shares are up 4.07% at $2.56 during the market session on the last check Thursday.
Latest Ratings for SIEN DateFirmActionFromTo
May 2021Canaccord GenuityMaintainsBuy
May 2021SVB LeerinkMaintainsOutperform
Mar 2021Canaccord GenuityMaintainsBuy
View More Analyst Ratings for SIEN

View the Latest Analyst Ratings

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