Why This Analyst Set A $3 Price Target On SINTX Shares

The FDA-registered silicon nitride medical device manufacturing facility company SINTX Technologies Inc SINT boasts five near-term catalysts that should help the stock double in value, according to Ascendiant Capital Markets. 

Sintx said in a Wednesday press release that it has retained Ascendiant to identify strategic opportunities for the company in the dental space. 

The Analyst

Edward Woo initiated coverage of Sintx Technologies with a Buy rating and $3 price target.

The Thesis

Sintx develops silicon nitride products that can be used across medical and non-medical products.

Silicon nitride is a strong material that can be used across demanding and extreme industrial environments, Woo said in the Wednesday initiation note. (See his track record here.) 

Sintx has five catalysts ahead over the coming year, he said: 

• Support CTL Amedica to improve adoption of silicon nitride spinal fusion devices.
• A focus on new opportunities outside of spine.
• The enactment of new silicon nitride manufacturing technologies.
• The improvement of properties of the material currently used.
• The application of its silicon nitride technology platform to other OEM opportunities.

Despite multiple catalysts ahead, there are some risks investors should be aware of, Woo said.

Sintx competes against a combination of biomaterial and medical technologies companies that already have rival silicon nitride products, the analyst said. The company's growth profile is dependent on finding new manufacturing partners to develop and sell silicon nitride products, he said. 

Nevertheless, the company operates within $1 billion market, and the potential upside outweighs the risks, according to Ascendiant Capital Markets. 

Price Action

Sintx Technologies shares were rallying by 87.33% to $2.81 at the time of publication Thursday. 

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