Alphatec initiated with a Buy at Roth MKM

Roth MKM initiated coverage of Alphatec with a Buy rating and $22 price target. Alphatec Chairman and CEO Pat Miles and the management team has transformed the “me too” spine business into “the” thought leader in spine, pioneering new spinal fusion approaches and continually attracting top sales talent, the analyst tells investors in a research note. Alphatec is quickly gaining share in lateral procedures with its Prone Trans Psoas approach and is also seeing product pull-through across its portfolio and is expanding PTP beyond the lateral approach to other spinal approaches, the firm says.