Roth Capital Remains Bullish On Enteromedics Ahead Of FDA Approval Decision
In a research report published today, Roth Capital analyst Chris Lewis maintained a Buy rating on Enteromedics (NASDAQ:ETRM) with a $3.00 price target, which implies an upside of 114% from current levels.
Lewis observed, “We continue to have confidence, based on the positive risk/reward FDA advisory panel vote (6:2:1) and reassuring ongoing dialogue between the company and the FDA, that ETRM is likely to receive FDA approval over the coming weeks.”
The analyst added, “We view ETRM’s risk-reward as favorable at current levels given our confidence in ETRM’s FDA approval likelihood, and expect an approval announcement to be a meaningful near-term catalyst for the stock.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Chris Lewis has a total average return of -0.2% and a 60.8% success rate. Lewis has a -0.3% average return when recommending ETRM, and is ranked #2388 out of 3412 analysts.