Piper Sandler on TELA Bio, Inc. (TELA): 'Nice Rebound in Q1 but Still a Ways to Go'

Piper Sandler analyst Matt O'Brien reiterated a Neutral rating and $2.00 price target on TELA Bio, Inc. (NASDAQ: TELA).

The analyst commented: "Nice Rebound in Q1 but Still a Ways to Go; TELA reported Q1 results, which beat our estimate on the top-line but missed on the operating loss side of things. Revenue guidance for the year was reiterated and looks more achievable than a few weeks ago but there is still a steep ramp in the back half of the year. The refined sales force is starting to show some productivity improvements and a new product later this year should help them take more share in the category. However, the company did spend more than we expected this quarter (SG&A) and we believe the need for an additional financing will continue to weigh on the stock. We reiterate our N rating."

For an analyst ratings summary and ratings history on TELA Bio, Inc. click here. For more ratings news on TELA Bio, Inc. click here.

Shares of TELA Bio, Inc. closed at $1.15 yesterday.

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