Rodman & Renshaw Initiates Coverage on Orthovita (VITA) with a Market Outperform
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Rodman & Renshaw initiates coverage on Orthovita (Nasdaq: VITA) with a Market Outperform. Price target $4.
Rodman analyst says, "We believe the company is poised for steady 20%+ revenue growth, fueled by continued flow of clinical data supporting use of its Vitoss synthetic bone graft platform in an expanding set of indications, as well as new products. We also expect healthy sales and marketing leverage, helping narrow operating losses and positioning the company for profitability following 2H09 FDA approval of its Cortoss synthetic cortical bone. With Cortoss, the company enters a $280 million vertebral compression fracture implant market, among other indications, advancing the orthopaedic industry s 35+ year reliance on polymethylmethacrylate."
Orthovita, Inc. (Orthovita) is a spine and orthopedic biosurgery company with biomaterials and biologic technologies for the development and commercialization of synthetic, biologically active, tissue engineering products.
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