UPDATE: Piper Jaffray Lowers PT on TranS1 Following Updated Projections

In a report published Wednesday, Piper Jaffray analyst Matt Miksic reiterated an Overweight rating on TranS1 TSON, but lowered the price target from $4.00 to $3.00.

In the report, Piper Jaffray noted, “We are updating our projections for TSON and trimming our 12-month target. After the modest Q1 miss and guide-down, management remains focused on the close of the Baxano acquisition, and given the modest size of the deal, both organizations have been free to begin coordinating activities in the field. Along with early stage field force integration, however, comes the potential for distraction as sales reps are cross-trained on new products and there is invariably some trimming of overlap as management discussed on their 1Q13 conference call. We reiterate our Overweight rating on TSON, trimming our target from $4 to $3, due in part to the near-term risks related to the Baxano integration and relaunch and adoption of AxiaLIF. That said, we continue to view TranS1's MIS instruments and implants as differentiated and innovative, and we remain constructive on the stock at current levels.”

TranS1 closed on Tuesday at $2.21.

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Posted In: Analyst ColorPrice TargetAnalyst RatingsMatt MiksicPiper Jaffray
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