In a report released today, Anthony Vendetti from Maxim Group maintained a Buy rating on Xtant Medical Holdings (XTNT), with a price target of $10. The company’s shares opened today at $3.18.
Vendetti wrote:
“Michael Mainelli was appointed as interim CEO, effective October 12, 2018, replacing Carl O’Connell. Kathie Lenzen was appointed as CFO, effective August 20, 2018. 2018, XTNT amended its credit agreement with OrbiMed to reduce interest payments through 2Q19 in exchange for 1.2M warrants and a larger principal repayment fee at maturity. We are introducing quarterly estimates for 2019. XTNT is scheduled to release 3Q18 results on Market close, with a conference call at 4:30pm ET.”
According to TipRanks.com, Vendetti is a 5-star analyst with an average return of 9.9% and a 53.8% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Ellex Medical Lasers Limited, Restoration Robotics Inc, and Ra Medical Systems Inc.
Xtant Medical Holdings has an analyst consensus of Moderate Buy, with a price target consensus of $10.
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Based on Xtant Medical Holdings’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $5 million. In comparison, last year the company had a GAAP net loss of $8.51 million.
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Xtant Medical Holdings, Inc. operates as a holding company, which supplies orthopedic and spine surgery products. The firm operates through its subsidiaries, Bacterin International, Inc. and X-spine Systems, Inc. Bacterin International develops, manufactures, and markets biologics products to domestic and international markets.
