NuVasive Inc expanded its partnership with the International Spine Study Group Foundation (ISSGF) with the launch of two new clinical studies. These studies will be targeted at improving patient outcomes in adult spinal deformity surgery.
NuVasive’s (NUVA) Vice President of clinical, medical and regulatory affairs, Kyle Malone, said, “NuVasive is excited to extend our partnership with the ISSGF, the premier study group on adult spinal deformity, and to support these breakthrough studies that will inform the future of spine care.”
Initially, the partnership was started in 2015 with a five-year study to compare different outcomes between minimally invasive and open techniques for treating adult spine deformity.
Initial reports from the study showed the minimally invasive technique is a feasible and effective approach. Based on this outcome, the two partners will conduct the new studies.
The studies include a 10-year study to evaluate complex adult spinal deformity treated with minimally invasive surgery for different outcomes and data. The second study is a case controlled analysis of safety profile, outcomes and implant performance of Nuvasive’s VersaTie posterior fixation system, which is used in long posterior spinal fusion constructs in adult patients.
President of the ISSGF and orthopaedic spine surgeon at Denver International Spine Center, Shay Bess, M.D., said, “Our partnership with NuVasive represents a collaborative commitment to better understand the pathology and treatment of adult spinal deformity.” (See NuVasive stock analysis on TipRanks)
Last month, Needham analyst David Saxon reiterated a Buy rating on the stock with a target price of $70 (5.9% upside potential).
Saxon said, “We expect Nuvasive’s revenue growth to accelerate as it recovers from the COVID-19 pandemic and we see potential for upside to consensus 2020 and 2021 estimates. We expect its Pulse and robotics system launches to drive a meaningful acceleration in its revenue growth. And we expect significant operating margin improvement over the next few years.”
Turning to the rest of the Street, the stock has a Moderate Buy consensus rating alongside an average analyst price target of $65.63 (0.8% downside potential). That’s based on 5 Buys and 5 Holds. Shares have rallied about 51.5% over the past year.