Lake Street trims Alphatec price target, says time to ‘buy shares aggressively’

Lake Street analyst Brooks O’Neil lowered the firm’s price target on Alphatec to $18 from $32 and keeps a Buy rating on the shares. The team at Alphatec are committed to building a leading spine company and they have repeatedly tapped both the equity and debt markets in their quest so fear that Alphatec would run out of cash and need another infusion of equity has “dominated trading in shares now for the better part” of the last three and a half years, the analyst tells investors. However, with the stock near a four-year low, the firm believes “it is time for investors to brace up and buy shares aggressively” given Lake Street does not believe that Alphatec will run out of cash or sell additional equity anytime soon.