J.P. Morgan Expects Positive FDA Panel For BMTI And Is Raising PT

In a recent report, J.P. Morgan expects positive results for BioMimetic Therapeutics (

) at May 12 FDA Panel and has raised the price target on BioMimetic Therapeutics from $16.00 to $17.00. At the FDA Panel on May 12, BMTI is seeking the approval of their Augment bone graft. In the report, J.P. Morgan said, "BioMimetic appears well-prepared for the meeting with a solid clinical data package. The co has been conducting mock training sessions to prepare for its May 12th date, and communications with the agency thus far have yielded no surprises. BMTI and FDA have been in consistent contact heading into the panel, and the co feels comfortable with the nature of requests." BioMimetic Therapeutics is currently trading at $13.36.