Rewalk Robotics (RWLK) Receives a Buy from Oppenheimer

In a report released today, Steven Lichtman from Oppenheimer maintained a Buy rating on Rewalk Robotics (NASDAQ: RWLK), with a price target of $1.75. The company’s shares opened today at $1.05.

Lichtman said:

“Following 2Q18, we update our outlook for 2018/2019. ’18 sales guidance is updated to lower end of the range ($9M-$11M) as VA policy revision occurred (in June) later than anticipated. The positive changes seen in 2Q, primarily as a result of the now well-defined, expanded coverage in Germany (90% of paralyzed populations now covered), are expected to be realized into higher revenues in 2H vs 1H. Recently expanded access VA policy and transition to patient-based appeals with shorter review times in US should serve as additional contributors. With regard to RESTORE stroke rehab device, commercialization in US and EU is anticipated mid-2019; delays in Restore JV formation with Timwell/RealCan in China slightly push out anticipated receipt of $10M/$1.25M equity investment/minimum purchases.”

According to TipRanks.com, Lichtman has 0 stars on 0-5 star ranking scale with an average return of -3.6% and a 52.3% success rate. Lichtman covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Zimmer Biomet Holdings, and Motus Gi Holdings Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Rewalk Robotics with a $1.50 average price target, implying a 42.9% upside from current levels. In a report issued on August 17, Canaccord Genuity also maintained a Buy rating on the stock with a $1.25 price target.

.

See today’s analyst top recommended stocks >>

Based on Rewalk Robotics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $5.8 million. In comparison, last year the company had a GAAP net loss of $6.31 million.

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.

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.