Loewen Ondaatje McCutcheon Reiterates Buy Rating, $7.50 PT on BioMimetic Therapeutics
In a report published Monday, Loewen Ondaatje McCutcheon reiterated its Buy rating and $7.50 price target on BioMimetic Therapeutics (NASDAQ: BMTI).
Loewen Ondaatje McCutcheon noted, “Overall, our views are mixed on the acquisition of BMTI by Wright Medical. On the positive side, the valuation is roughly in line with our base case outlook for BMTI shares if Augment were approved in 2013 (i.e., EV/share of approximately $8.40).”
BioMimetic Therapeutics closed on Friday at $4.15.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.