Treace Medical Concepts (TMCI) Gets a Buy Rating from Leerink Partners
In a report released today, Richard Newitter from Leerink Partners initiated coverage with a Buy rating on Treace Medical Concepts (TMCI) and a price target of $38.00. The company’s shares closed last Friday at $28.77.
According to TipRanks.com, Newitter is a 5-star analyst with an average return of 23.9% and a 67.1% success rate. Newitter covers the Healthcare sector, focusing on stocks such as Inspire Medical Systems, Organogenesis Holdings, and Zimmer Biomet Holdings.
Currently, the analyst consensus on Treace Medical Concepts is a Strong Buy with an average price target of $35.00, representing a 21.7% upside. In a report issued on May 18, Stifel Nicolaus also initiated coverage with a Buy rating on the stock with a $35.00 price target.
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Based on the recent corporate insider activity of 12 insiders, corporate insider sentiment is neutral on the stock.
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Treace Medical Concepts Inc is a commercial-stage orthopaedic medical device company. It is focused on advancing the standard of care for the surgical management of bunion deformities. The company’s patented Lapiplasty 3D Bunion Correction procedure is designed to reproducibly correct all planes of the bunion deformity and address the root cause of the bunion, while allowing patients to return to their active lives quickly.