In a report released yesterday, Kyle Rose from Canaccord Genuity maintained a Buy rating on TELA Bio (TELA), with a price target of $18.00. The company’s shares closed last Wednesday at $14.00.
According to TipRanks.com, Rose is a 5-star analyst with an average return of 16.8% and a 55.6% success rate. Rose covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Smith & Nephew Snats, and SeaSpine Holdings.
Currently, the analyst consensus on TELA Bio is a Strong Buy with an average price target of $19.33, a 38.1% upside from current levels. In a report issued on March 18, Jefferies also reiterated a Buy rating on the stock with a $20.00 price target.
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Based on TELA Bio’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $5.31 million and GAAP net loss of $7.7 million. In comparison, last year the company earned revenue of $3.97 million and had a GAAP net loss of $4.67 million.
Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TELA in relation to earlier this year.
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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.