Needham & Company analyst Mike Matson lowered his price target on Amedica Corporation (NASDAQ: AMDA) to $1.00 (from $3.00) but maintained a Buy rating following disappointing Q1 results.
Matson commented, "AMDA's 1Q15 revenue and EPS were below consensus. Revenue declined 18% Y/Y and 8% sequentially as silicon nitride (SiN) implant sales growth slowed to 7%. AMDA lowered its 2015 revenue guidance to $19-20M from $23-24M (vs. consensus of $23.3M) with SiN growth of 15-20% (vs. 30-40% previously). We expect the composite cervical spacers to be cleared by the FDA later this year and to serve as a growth driver, and we also expect additional private label and/or OEM agreements (AMDA expects four additional agreements this year) to serve as catalysts and to drive revenue growth."
I give it a 90 - 95% chance of approval. If the FDA did not like the 510(k) they would have told them already. Only questions are regulatory and clarifications. CASCADE study was very rigorous and met all FDA criteria
I agree. ELTK should go up from here. The market looks forward/ No one expected a blockbuster 1Q 2015 and the pps reflects this
lower margins results when revenues are low vbecause of economics of scale. Margins will increase with revenues starting in 2Q per Tulman and Nisn's comments.
Even at these low revenue rates margins were better than 1Q 2014 because of efficiency measures being successfully implemented
Actually, those not buying at these prices will hate themselves in the future
That's a dollar to $3/share!!!
Company projects doubling revenues to $1 Billions within 3 years. It;s all here...