Sientra Closes Sale of miraDry Business
Sientra Inc. (SIEN) has closed the sale of its miraDry business. The medical aesthetics company has sold its subsidiary to 1315 Capital, a private investment firm.
Following the news, shares of the company gained 2.2% to close at $7.60 in Friday’s extended trading session.
Ron Menezes CEO of Sientra said, “We are delighted to close our transaction with 1315 Capital. With the sale of the miraDry business, we can now focus on our rapidly growing breast products business, and intend to utilize the proceeds from the sale to strategically invest in programs that we believe will grow our market share and advance the art of plastic surgery.” (See SIEN stock analysis on TipRanks)
Recently, Colliers Securities analyst Kyle Bauser reiterated a Buy rating on the stock with a price target of $9 (20.9% upside potential).
Consensus among analysts is a Strong Buy based on unanimous 4 Buys. The average analyst SIEN price target of $10.75 implies 44.49% upside potential from current levels. Shares of the company have gained 86% over the past year.
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