Cantor Fitzgerald Thinks CRH Medical Corporation’s Stock is Going to Recover

By Ryan Adsit

Cantor Fitzgerald analyst Joseph France reiterated a Buy rating on CRH Medical Corporation (NYSEArca: CRHM) today and set a price target of $10. The company’s shares opened today at $4, close to its 52-week high of $9.25.

France commented:

“CMS proposed late 7/13/17 that two anesthesia codes be replaced by five new more specific codes: 00740 (upper endoscopy) would be replaced by 007X1/007X2 and 00810 (lower) would be replaced by 008X1/008X2/008X3. CRHM has evaluated the impact of these changes, effective 1/1/18.”

According to TipRanks.com, France is a 5-star analyst with an average return of 16.6% and a 60.9% success rate. France covers the Services sector, focusing on stocks such as Cross Country Healthcare, Five Star Quality Care, and WellCare Health Plans.

CRH Medical Corporation has an analyst consensus of Moderate Buy, with a price target consensus of $9.

CRH Medical Corporation’s market cap is currently $280.9M and has a P/E ratio of 29.92. The company has a book value ratio of 4.4651.

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CRH Medical Corp. provides physicians with innovative products for the treatment of gastrointestinal diseases. It focuses on physician education, patient outcomes and patient awareness. The company’s product, the CRH ORegan System, is a single use, disposable, hemorrhoid treatment.