Xtant initiated with a Buy at Craig-Hallum

Craig-Hallum analyst Chase Knickerbocker initiated coverage of Xtant with a Buy rating and $1 price target. Xtant is an attractive, differentiated asset hiding in plain sight selling both implants and biologics to the large $8B U.S. ortho spine market, the firm says. With a compelling recent acquisition and differentiated position in Orthobiologics as an operator of its internal tissue bank, Xtant is poised for growth and Craig-Hallum believes current stock price does not reflect this and rather reflects continued flat revenue growth. This is not the case, and the firm sees an attractive opportunity for investors to get involved and gain Spine market exposure in a micro-cap company making the pivot to what it expects to be sustained profitability and revenue growth.