H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Buy rating on Alphatec Holdings (ATEC) today and set a price target of $4. The company’s shares closed on Friday at $2.98.
Ramakanth said:
“We have updated our model to reflect the reported financials and management guidance. For 2018, we project total revenues of $93.4M and a net loss of $0.67 per share. Alpha launches of products expected to continue. Alphatec is on track to deliver 12 alpha launches of spinal implant products in 2018. In September, the company filed 510(K) with the FDA for OsseoScrew system, which has been successfully used in thousands of procedures internationally. According to the management, its approval is expected by YE2018 with its alpha and full launches likely to follow in 1H19 and 2H19, respectively. Being the-first-of-its-kind in the US, OsseoScrew is likely to help reshape the domestic posterior fixation market. The company is also preparing an alpha launch of a comprehensive thoracolumbar fixation system in November 2018, followed by 8 to 10 alpha launches each year in 2019 and beyond.”
According to TipRanks.com, Ramakanth is a 2-star analyst with an average return of 0.7% and a 34.4% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, IntelGenx Technologies, and Trillium Therapeutics.
Currently, the analyst consensus on Alphatec Holdings is a Moderate Buy with an average price target of $4.
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The company has a one-year high of $4.21 and a one-year low of $2.31. Currently, Alphatec Holdings has an average volume of 125.3K.
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Alphatec Holdings, Inc. designs, develops, and markets spinal fusion technology products and solutions for the treatment of spinal disorders. The company products portfolio include biologics, cervical, interbody, minimally invasive surgery, and thoracolumbar. It operates through the United States and International geographical segments.
