Lake Street raised the firm’s price target on Elutia to $10 from $5 and keeps a Buy rating on the shares after the company announced FDA clearance for EluPro and a $13.3M direct offering earlier this week. The clearance came with a slightly better-than-expected label and the financing provides the company with optionality, says the analyst, who ascribes $7 per share of value to EluPro and $3 per share to SimpliDerm and the cardiovascular business.
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