Establishment Labs price target lowered to $50 from $95 at B. Riley

B. Riley lowered the firm’s price target on Establishment Labs to $50 from $95 and keeps a Buy rating on the shares. Establishment reported a top line miss with sales below the Street’s expectations, and guidance cut to $165M from $200M-$210M, the analyst tells investors in a research note. While hard to gauge how long the slowed demand could last, particularly with distributors, management believes its generally transitory and short-lived and procedure demand should grow over time, the analyst tells investors in a research note.