BioMimetic (BMTI) Shares Surge Following Results of Graft Trial; Analyst Says Market Offers Another Sizable Opportunity

Collins Stewart reiterates a 'Buy' on BioMimetic Therapeutics (NASDAQ: BMTI) price target of $7.00. (Note - shares are currently trading at $2.35, up $0.30 (+14.63%)

Analyst, Tao Levy, said, "BMTI announced after the market close 6-month results of its 30-patient Canadian Augment Rotator Cuff Graft clinical trial. Although a small pilot study, the data are positive and suggest that the application of rhPDGF-BB in rotator cuff repair merits further studies (and could attract interest from potential partners). Importantly, it calls attention to additional, large market opportunities beyond foot/ankle fusions that are not reflected whatsoever in BMTI's share price. As a result, we reiterate our rating, especially with the company trading at below cash (~$70 million on the balance sheet with no debt which is enough to last it close to 3 years)."

For an analyst ratings summary and ratings history on BioMimetic Therapeutics click here. For more ratings news on BioMimetic Therapeutics click here.

Shares of BioMimetic Therapeutics closed at $2.05 yesterday.

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