TELA Bio Analysts Cut Their Forecasts After Q4 Results

TELA Bio, Inc. reported a Q4 loss of 17 cents per share, beating the analyst estimate of 18 cents, but its sales of $20.869 million fell short of the expected $21.047 million. The company anticipates Q1 sales of $18.5 million, below market estimates of $21.277 million. Following the earnings announcement, analysts from Canaccord Genuity and Lake Street lowered their price targets from $4 to $2 and from $3 to $2, respectively, while Piper Sandler reduced its target from $1.25 to $1. TELA Bio shares declined by 9.4% to close at $0.6901.