Xtant Medical price target lowered to $2 from $3 at BTIG

BTIG lowered the firm’s price target on Xtant Medical (XTNT) to $2 from $3 and keeps a Buy rating on the shares. The company’s loss per share was worse than expected as gross margins were impacted by inventory charges related to Surgalign and product optimization in OrthoBiologics, the analyst tells investors in a research note. The management believes however that they are setting achievable guidance for FY25 coupled with reduced operating expenses in order to manage cash and simplify the business profile, the firm added.