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Investing.com - TD Cowen lowered its price target on Procept BioRobotics Corp (NASDAQ:PRCT) to $50.00 from $85.00 on Wednesday, while maintaining its previous rating on the stock.
The firm’s decision comes as Procept BioRobotics shares fell 6% in after-hours trading, following the company’s decision to maintain its 2025 sales guidance and introduce 2026 guidance that only reaches Street estimates at the higher end of the range.
TD Cowen characterized the market’s negative reaction as "excessive" and suggested that Procept BioRobotics is "simply being conservative" with its outlook, noting that the stock "is not priced to perfection."
The new $50 price target represents a multiple of 6 times TD Cowen’s estimated 2026 sales for the medical robotics company.
Despite the significant reduction in price target from $85 to $50, TD Cowen maintained its rating on Procept BioRobotics stock, indicating it still sees potential upside for the shares.
In other recent news, PROCEPT BioRobotics reported its third-quarter 2025 earnings, surpassing revenue expectations with $83.3 million, marking a 43% increase compared to the previous year. The earnings per share (EPS) stood at -$0.38, slightly better than analysts’ projection of -$0.41. Additionally, the company outperformed in U.S. system sales, delivering 57 units against the consensus expectation of 52 units, as analyzed by Leerink Partners. Despite these positive results, Leerink Partners has lowered its price target for PROCEPT BioRobotics from $65 to $55, while maintaining an Outperform rating. These developments highlight the company’s robust performance in the third quarter. Investors may find the earnings and revenue growth particularly noteworthy. The changes in analyst ratings reflect a cautious yet positive outlook on the company’s trajectory.
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