Motus Gi Holdings Inc (MOTS) Gets a Buy Rating from Oppenheimer


Oppenheimer analyst Steven Lichtman maintained a Buy rating on Motus Gi Holdings Inc (MOTS) yesterday and set a price target of $10. The company’s shares closed yesterday at $3.21, close to its 52-week low of $3.03.

Lichtman noted:

“We caught up with MOTS management following 3Q18 earnings release to discuss progress on key developments. 3Q18 net loss was $5.2M vs. our $4.3M loss forecast, primarily owing to higher SG&A investments as a result of commercial team expansion and market development efforts. R&D was also higher on REDUCE clinical trial expenses. Focus continues to be growing clinical and health economic evidence, building sales and clinical resources, while engaging with hospitals, physicians, and value analysis committees in preparation of Pure-Vu full commercial launch in 2019. Quarterly highlights include active patient enrollment of REDUCE study and minimal prep data presentation at ACG. Key milestones ahead include REDUCE study data readout (1Q19E), initiate reduced prep in-patient study for GI bleed, and regulatory approval of second-gen Pure-Vu.”

According to TipRanks.com, Lichtman is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -6.4% and a 46.6% success rate. Lichtman covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Zimmer Biomet Holdings, and Integra Lifesciences.

Currently, the analyst consensus on Motus Gi Holdings Inc is a Moderate Buy with an average price target of $8.

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The company has a one-year high of $10.66 and a one-year low of $3.03. Currently, Motus Gi Holdings Inc has an average volume of 58.57K.

Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MOTS in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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