In a report released yesterday, Kyle Rose from Canaccord Genuity maintained a Buy rating on ConforMIS (CFMS), with a price target of $2.00. The company’s shares closed last Wednesday at $0.65, close to its 52-week low of $0.50.
According to TipRanks.com, Rose is a 4-star analyst with an average return of 8.3% and a 49.6% success rate. Rose covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Smith & Nephew Snats, and Alphatec Holdings.
Currently, the analyst consensus on ConforMIS is a Moderate Buy with an average price target of $2.50, representing a 284.6% upside. In a report released today, Oppenheimer also assigned a Buy rating to the stock with a $3.00 price target.
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Based on ConforMIS’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $19.47 million and GAAP net loss of $2.14 million. In comparison, last year the company earned revenue of $19.59 million and had a GAAP net loss of $6.76 million.
Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CFMS in relation to earlier this year.
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ConforMIS, Inc. operates as a holding company, which engages in the development, manufacture and sale of joint replacement implants. Its products include iTotal, iUni and iDuo and iJig Instrumentation. The company was founded by Philipp Lang in 2004 and is headquartered in Billerica, MA.
