Sientra shares are trading lower after the company reported preliminary Q3 revenue results below estimates and said it is exploring strategic alternatives. Additionally, Craig-Hallum downgraded the stock from Buy to Hold and announced a $2 price target.
Portfolio Pulse from Benzinga Newsdesk
Sientra's shares are trading lower after the company reported preliminary Q3 revenue results below estimates. The company is also exploring strategic alternatives. Craig-Hallum downgraded the stock from Buy to Hold and announced a $2 price target.
October 31, 2023 | 3:28 pm
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NEGATIVE IMPACT
Sientra's stock is trading lower due to disappointing Q3 revenue results and a downgrade from Craig-Hallum. The company is also exploring strategic alternatives.
Sientra's lower than expected Q3 revenue results and the downgrade from Craig-Hallum are likely to negatively impact the stock price in the short term. The announcement of exploring strategic alternatives also adds uncertainty, which can further pressure the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100