Establishment Labs Holdings Inc (NASDAQ: ESTA) received a Buy rating and a $35 price target from BTIG analyst Sean Lavin yesterday. The company’s shares closed yesterday at $27.22, close to its 52-week high of $27.76.
Lavin wrote:
“$35 PT There are numerous puts and takes in the mature but complex breast implant market. Even so, we expect Establishment’s Motiva portfolio to be a channel disruptor on the merits of innovative design, natural feel and impressive safety profile. Though risks around competition and FDA approval are not to be dismissed, continued geographic expansion and momentum in Brazil should drive above-average revenue growth in the near-term. Combined with the longer-term potential of U.S. commercialization and branded offerings, we feel there is much to support an investment. We initiate coverage of Buy rating and $35 price target.”
According to TipRanks.com, Lavin is a 5-star analyst with an average return of 13.5% and a 60.8% success rate. Lavin covers the Healthcare sector, focusing on stocks such as Helius Medical Technologies, Tactile Systems Technology, and Obalon Therapeutics Inc.
Currently, the analyst consensus on Establishment Labs Holdings Inc is a Moderate Buy with an average price target of $35.
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The company has a one-year high of $27.76 and a one-year low of $24.11. Currently, Establishment Labs Holdings Inc has an average volume of 181.5K.
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