PROCEPT BioRobotics drops 28% pre-market after BofA downgrade

PROCEPT BioRobotics stock plummeted over 28% pre-market after Bank of America downgraded it to 'Underperform' and cut its price target to $20. BofA cited concerns over earnings visibility and profitability following a wider-than-expected Q4 loss of $0.53 per share and a revenue miss of $76.4 million.