Oppenheimer analyst Steven Lichtman assigned a Buy rating to Rewalk Robotics (NASDAQ: RWLK) yesterday and set a price target of $2. The company’s shares closed yesterday at $1.10, close to its 52-week low of $1.05.
Lichtman noted:
“Management is advancing forward with its Timwell/Ambrum partnership agreement to establish sales of RESTORE soft-suit in China. In addition to the $20M equity investments from Timwell—$5M initially, $10M upon formation of JV (expected mid- year), $5M upon establishment of manufacturing by 1Q19—RWLK will also benefit from minimum purchases of $1.25M/$4M/$8M in 2018/’19/’20. Recent developments on the ReWalk exoskeleton include a change in the process for obtaining case-by- case reimbursement for patients in the US by leveraging the ACA provisions (could limit review times and provide external independent review) as well as establishment of a new code for training of RWLK systems in Germany. We will continue to monitor progress on these initiatives.”
According to TipRanks.com, Lichtman ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -3.1% and a 53.7% success rate. Lichtman covers the Healthcare sector, focusing on stocks such as Motus Gi Holdings Inc, Integra Lifesciences, and Wright Medical Group.
Rewalk Robotics has an analyst consensus of Moderate Buy, with a price target consensus of $1.75.
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Based on Rewalk Robotics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $6.33 million. In comparison, last year the company had a GAAP net loss of $6.4 million.
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ReWalk Robotics Ltd. engages in the design, development, and marketing of wearable robotic exoskeletons. Its product brand name includes Argo’s ReWalk. The company was founded by Amit Goffer on June 20, 2001 and is headquartered in Yokneam Ilit, Israel.
