Canaccord Genuity analyst Kyle Rose maintained a Buy rating on TELA Bio (TELA) yesterday and set a price target of $18.00. The company’s shares closed last Wednesday at $13.13.
According to TipRanks.com, Rose is a 4-star analyst with an average return of 8.2% and a 51.1% success rate. Rose covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Smith & Nephew Snats, and Alphatec Holdings.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for TELA Bio with a $19.75 average price target, a 50.1% upside from current levels. In a report released yesterday, Piper Sandler also maintained a Buy rating on the stock with a $17.00 price target.
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Based on TELA Bio’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $3.73 million and GAAP net loss of $7.22 million. In comparison, last year the company earned revenue of $3.31 million and had a GAAP net loss of $5.97 million.
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TELA Bio, Inc. is a commercial stage medical technology company. It focuses on designing, developing and marketing of tissue reinforcement materials to address unmet needs in soft tissue reconstruction. The company offers a portfolio of advanced reinforced tissue matrices that improve clinical outcomes and reduce overall costs of care in hernia repair, abdominal wall reconstruction and plastic and reconstructive surgery. TELA Bio was founded by Antony Koblish and Maarten Persenaire on April 17, 2012 and is headquartered in Malvern, PA.
