Canaccord Genuity Maintains a 'Hold' on TranS1 Inc (TSON); AMA Rejects CPT Code Conversion Request; Company Will Appeal
Canaccord Genuity maintains a 'Hold' on TranS1 Inc (NASDAQ: TSON) price target of $3.00.
Canaccord analyst, William J. Plovanic, said, "We maintain our rating on TranS1 following the announcement that the American Medical Association (AMA) rejected the company's request to upgrade their CPT codes to category I from category III. We believe investors will view this passively. Specifically, while the graduation to a level I code represented a significant potential catalyst for the stock, it was not expected. However, we note the company plans to appeal the decision with hopes for additional panel review at the February 2012 meeting."
For an analyst ratings summary and ratings history on TranS1 Inc click here. For more ratings news on TranS1 Inc click here.
Shares of TranS1 Inc closed at $1.52 yesterday, with a 52 week range of $1.39-$5.42.
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