Alphatec Stock Rating Reaffirmed by Jefferies Group (ATEC)
Alphatec (NASDAQ: ATEC)‘s stock had its “buy” rating reiterated by investment analysts at Jefferies Group in a note issued to investors on Friday. They currently have a $2.50 target price on the stock, up from their previous target price of $2.00.
The analysts wrote, “Alphatec posted strong 4Q sales of $52.7mn, about $4.5mn over our price. The stronger close to ’12 sets the stage for positive growth in ’13 as the company shifts to the execution phase of their new strategy, with a handful of new product launches and a continued focus on execution. We maintain our Buy rating.”
Alphatec traded up 14.11% on Friday, hitting $1.86. Alphatec has a 1-year low of $1.41 and a 1-year high of $2.42. The stock’s 50-day moving average is currently $1.67. The company’s market cap is $166.5 million.
Separately, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Alphatec in a research note to investors on Wednesday, January 16th. They now have a $9.00 price target on the stock, up previously from $3.00.
Four research analysts have rated the stock with a buy rating, and one has given a hold rating to the company. The company currently has an average rating of “buy” and a consensus price target of $3.00.
Alphatec Holdings, Inc. (Alphatec) is a medical technology company focused on the design, development, manufacturing and marketing of products for the surgical treatment of spine disorders, with a focus on products that treat conditions that affect the aging spine.
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