Barclays analyst Kristen Stewart downgraded Avanos Medical (AVNS) to Underweight and lowered her price target for the shares to $36 from $59. Following a review of the pain medicine landscape the analyst has increased concerns regarding the outlook for the company’s ON-Q Pump. Drug shortages are likely to persist into mid-year, Stewart tells investors in a research note. Further, she has longer-term concerns around the potential FDA approval and launch of Heron Therapeutics’ (HRTX) HTX-011.
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