I think that this fellow is being conservative. I was expecting this stock to hit $60. by the end of next year. However, I do appreciate the buy recommendation.
Thursday July 2, 11:27 am Eastern Time
Note: there is a subsequent correction for this article.
Company Press Release
SOURCE: Genesis Merchant Group Securities
Genesis Initiates Coverage of Ortec International; Analyst Issues Buy with 18-month
$28 Price Target
SAN FRANCISCO, July 2 /PRNewswire/ -- Genesis Merchant Group Securities initiated coverage of Ortec International (Nasdaq: ORTC -
news) with a buy recommendation and an 18-month target price of $28 per share. Genesis analyst Christopher Tihansky said, ''Ortec is poised
to capture a meaningful portion of the $4.6-billion worldwide skin-substitute market.'' Tihansky forecasts fiscal 1998 earnings at $1.11 per share.
Ortec is a development-stage biotechnology company specializing in the tissue-engineered skin-substitute market. The company's core
technology is Composite Cultured Skin (CCS), which Tihansky believes ''will address an unmet clinical need in the wound management arena,
significantly improving patient outcomes and reducing the cost of treatment.''
Over the next 12 to 18 months, the analyst expects additional data from several ongoing and/or pending clinical trials to be available, which
should provide investors with concrete evidence of the market opportunity for CCS.
SOURCE: Genesis Merchant Group Securities
Thursday July 2, 2:10 pm Eastern Time
Note: this is a correction for a previous article.
Company Press Release
Correction -- Genesis Merchant Group Securities
In NYTH040, Genesis Initiates Coverage of Ortec International; Analyst Issues Buy with 18-month $28 Price Target, moved earlier today, we are
advised by a representative for the company that the first graph, last sentence should read ''Tihansky forecasts a loss of $1.11 per share for
fiscal 1998.'' rather than ''Tihansky forecasts fiscal 1998 earnings at $1.11 per share.'' as originally issued.
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