ConforMIS (CFMS) Gets a Buy Rating from Canaccord Genuity


In a report issued on May 2, 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 $0.86.

According to TipRanks.com, Rose is a 5-star analyst with an average return of 18.3% and a 58.3% success rate. Rose covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Smith & Nephew Snats, and SeaSpine Holdings.

ConforMIS has an analyst consensus of Moderate Buy, with a price target consensus of $2.50, implying a 177.8% upside from current levels. In a report issued on April 23, 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 December 31, the company reported a quarterly revenue of $16.7 million and GAAP net loss of $6.62 million. In comparison, last year the company earned revenue of $19.89 million and had a GAAP net loss of $5.43 million.

Based on the recent corporate insider activity of 21 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.

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.

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.

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