BTIG Downgrades Venus Concept (VERO) to Neutral, "too many hurdles remain to reach sustainable operating profitability"

BTIG analyst Marie Thibault downgraded Venus Concept Inc. (NASDAQ: VERO) from Buy to Neutral.

The analyst comments: "We are downgrading Venus Concept from Buy to Neutral after reassessing the company's ability to execute on its strategic turnaround plans in what has become a more challenging macro environment. Yesterday morning, VERO reported preliminary Q3 revenue below expectations, cut full-year revenue guidance due to the accelerated OUS distributor transition, and announced a debt restructuring. While this does remove a near-term financial overhang and helps improve VERO's liquidity profile, the cash runway depends in large part on significant working capital reductions and we think too many hurdles remain to reach sustainable operating profitability.

We appreciate the effort it took to achieve this debt restructuring, but in a cautious investing environment, we think there are too many possible pitfalls on VERO's path to sustainable operating profitability. As a result, we downgrade from Buy to Neutral.'

For an analyst ratings summary and ratings history on Venus Concept Inc. click here. For more ratings news on Venus Concept Inc. click here.

Shares of Venus Concept Inc. closed at $2.07 yesterday.

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