Sientra Inc
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Health Care : Health Care Equipment & Supplies | Small Cap Value
Company profile

Sientra, Inc. is a medical aesthetics company. The Company is engaged in transformative treatments and technologies focused on advancing plastic surgery. The Company provides medical aesthetics products to certified plastic surgeons and patients. It has developed a portfolio of products with technologically differentiated characteristics, supported by independent laboratory testing and strong clinical trial outcomes. The Company sells its breast implants, breast tissue expanders, and fat transfer system for reconstruction procedures predominantly to hospitals and surgery centers, and its BIOCORNEUM scar management products to plastic surgeons, dermatologists and other specialties. The Company's brands also include Sientra, Sientra Platinum20, Sientra Full Circle, Sientra Smooth, Sientra Teardrop, AlloX, AlloX2, Anatomical Controlled, BIOCORNEUM, Curve, Dermaspan, Luxe, Softspan, Silishield, AuraClens and Viality.

Day's Change
1.20 (68.65%)
B/A Size
Day's High
Day's Low
(Heavy Day)

Today's volume of 27,760,895 shares is on pace to be much greater than SIEN's 10-day average volume of 363,878 shares.


Cowen drops coverage of U.S. pot stocks on pending acquisition by Toronto-Dominion Bank

9:24 am ET March 1, 2023 (MarketWatch)

By Steve Gelsi

TD takes cautious approach after failure of SAFE Banking measure in Congress last year

Cowen analyst Vivien Azur is dropping coverage of seven cannabis stocks as part of the $1.3 billion acquisition of the investment bank by Canadian financial-services conglomerate Toronto-Dominion Bank.

The move stems from TD's (TD.T) cautious approach to U.S. cannabis following the failure of the SAFE Banking measure in Congress last year.

"Cowen has been a leader for in-depth, actionable research across equity markets, including emerging growth sectors like cannabis," a spokesman for the bank told MarketWatch in an email. "Post Cowen's acquisition by TD, we are no longer covering securities relating to U.S. multi-state-operators in the cannabis sector but would reevaluate if the SAFE Act is passed or federal regulatory posture changes."

TD's acquisition of Cowen Inc. is closing on Wednesday. It was initially announced on August 2.

The names no longer receiving coverage are: Acreage Holdings Inc. , Columbia Care Inc. , Cresco Labs , Curaleaf Holdings Inc. , Green Thumb Industries Inc. , TerrAscend Corp. and Trulieve Cannabis Corp. .

Ben Kovler, CEO of Green Thumb Industries, said the company continues to get analyst coverage from several other analysts, but Cowen's analysis will be missed.

It doesn't make sense that Congress has taken no action on SAFE Banking given that 400,000 Americans now work in a legal business in the cannabis industry, which currently generates nearly $30 billion in sales, Kovler said.

Cowen will continue to conduct research of macro trends including cannabis based on its consumer data and insights, as well as on U.S. policy and regulatory insights from its Washington Research Group unit.

SAFE Banking legislation would have potentially paved the way for more access to the banking system for legal-cannabis companies, given that pot remains illegal under federal law.

The move by Cowen marks a setback for the cannabis companies because it means clients of TD and Cowen will no longer receive recommendations on stock investments in the U.S. sector.

But it's in line with most other major banks, which avoid cannabis companies because cannabis remains a Schedule I controlled substance under U.S. law.

Also Read: Federal spotlight shifts to regulatory re-scheduling of cannabis

And:Cannabis industry's spending on Washington lobbying hits record

-Steve Gelsi


(END) Dow Jones Newswires

March 01, 2023 09:24 ET (14:24 GMT)

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