Northland Capital Markets Remains Bullish on Wright Medical Group (WMGI) Following AUGMENT FDA Approval

Northland Capital Markets reiterated an Outperform rating and $32.00 price target on Wright Medical (NASDAQ: WMGI) following FDA approval of AUGMENT in hindfoot and ankle fusion with a clean label.

Analyst Mark Landy commented, "Yesterday WMGI announced FDA approval of AUGMENT in hindfoot and ankle fusion with a clean label. While many will focus on the approval and launch of AUGMENT, we point out AUGMENT’s approval has unlocked a rhPDGF franchise that dovetails perfectly with WMGI’s current business. AUGMENT Injectable, AUGMENT for rotator cuff tears and AUGMENT for elbow tendinosis are three products WMGI could launch. We estimate the market for rhPDGF in WMGI's current business segments could exceed $2B."

For an analyst ratings summary and ratings history on Wright Medical click here. For more ratings news on Wright Medical click here.

Shares of Wright Medical closed at $22.92 yesterday.

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