Paragon 28 (NYSE:FNA) Price Target Lowered to $15.00 at Canaccord Genuity Group

Paragon 28 (NYSE:FNA - Get Free Report) had its target price lowered by equities research analysts at Canaccord Genuity Group from $17.00 to $15.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's price target points to a potential upside of 45.63% from the stock's current price.

Other equities research analysts have also recently issued reports about the company. Piper Sandler restated an "overweight" rating and set a $12.00 target price (down from $15.00) on shares of Paragon 28 in a report on Friday, August 9th. Needham & Company LLC increased their target price on Paragon 28 from $11.00 to $13.00 and gave the stock a "buy" rating in a research report on Wednesday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Paragon 28 presently has an average rating of "Buy" and an average price target of $15.60.

Paragon 28 Trading Up 37.3 %

Paragon 28 stock traded up $2.80 during mid-day trading on Wednesday, reaching $10.30. The stock had a trading volume of 2,823,172 shares, compared to its average volume of 604,391. The stock's 50-day simple moving average is $6.28 and its 200-day simple moving average is $7.19. Paragon 28 has a fifty-two week low of $4.65 and a fifty-two week high of $14.79. The company has a current ratio of 3.57, a quick ratio of 1.70 and a debt-to-equity ratio of 0.75.

Paragon 28 (NYSE:FNA - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.15) EPS for the quarter, topping analysts' consensus estimates of ($0.16) by $0.01. The business had revenue of $62.30 million for the quarter, compared to analyst estimates of $60.58 million. Paragon 28 had a negative return on equity of 36.84% and a negative net margin of 25.31%. Paragon 28's quarterly revenue was up 18.0% compared to the same quarter last year. During the same period last year, the company posted ($0.10) earnings per share. Equities research analysts forecast that Paragon 28 will post -0.68 EPS for the current year.

Institutional Trading of Paragon 28

A number of large investors have recently made changes to their positions in FNA. Charles Schwab Investment Management Inc. grew its stake in Paragon 28 by 4.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 343,565 shares of the company's stock worth $2,295,000 after acquiring an additional 15,064 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Paragon 28 in the third quarter worth about $70,000. Commerce Bank grew its position in Paragon 28 by 28.5% during the 3rd quarter. Commerce Bank now owns 18,350 shares of the company's stock worth $123,000 after purchasing an additional 4,075 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Paragon 28 in the 3rd quarter valued at $386,000. Finally, Park Edge Advisors LLC raised its stake in shares of Paragon 28 by 2.7% in the third quarter. Park Edge Advisors LLC now owns 598,870 shares of the company's stock worth $4,000,000 after purchasing an additional 15,727 shares during the last quarter. 63.57% of the stock is currently owned by institutional investors.

About Paragon 28

Paragon 28, Inc develops, distributes, and sells foot and ankle surgical systems in the United States and internationally. It offers plating systems, including gorilla plating systems, such as lisfranc, lapidus, lateral column, calcaneus slide, and naviculocuneiform (NC) fusion plating systems; baby gorilla plate-specific screws, navicular fracture plates, and 5th metatarsal hook plates; and silverback plating systems.