UPDATE: Loewen, Ondaatje, McCutcheon Initiates BioMimetic Therapeutics at Buy on Regulatory Tailwinds
Loewen, Ondaatje, McCutcheon initiated its coverage on BioMimetic Therapeutics (NASDAQ: BMTI) with a Buy rating and a $7.50 price target.
Loewen, Ondaatje, McCutcheon commented, "BioMimetic Therapeutics is a development-stage regenerative medicine company focused on the $1+ billion orthobiologics market. Its lead product candidate is Augment which is designed as an alternative to autograft in foot and ankle fusion surgery. While Augment has endured a challenging regulatory review, the recently submitted PMA amendment provides us with a higher degree of confidence it will receive FDA approval."
BioMimetic Therapeutics closed at $3.82 on Wednesday.
Latest Ratings for BMTI
|Mar 2013||Wells Fargo||Terminates||Neutral|
|Nov 2012||Loewen, Ondaatje, McCutcheon||Downgrades||Buy||Hold|
|Oct 2012||Loewen, Ondaatje, McCutcheon||Initiates Coverage on||Buy|
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