Canaccord Genuity Remains a Buy on Rewalk Robotics

By Carrie Williams

Canaccord Genuity analyst Kyle Rose maintained a Buy rating on Rewalk Robotics (NASDAQ: RWLK) today and set a price target of $2. The company’s shares opened today at $1.25, close to its 52-week low of $1.05.

Rose wrote:

“We maintain our BUY rating on ReWalk Robotics following Q4/17 results. ReWalk reported revenues of $1.5M, below CG/consensus of $2.1M/$1.9M. Although the shipment of 23 systems was well below our expectation for 42 systems, ReWalk sales benefited from a favorable mix of system purchases and rental conversions in the quarter. Despite the weaker than anticipated system placements, we were encouraged to see another quarter of strong demand and another positive coverage decision with reimbursement through Italy’s worker’s compensation group. While commercial unit placements continue to be lumpy Q/Q we continue to view the broader pipeline (Restore soft suit for stroke) positively in the H2/18 and beyond. Positive momentum in demand and reimbursement decisions: In Q4/17 the company placed 23 total units, down from 39 Y/Y but up Q/Q from 16.”

According to, Rose is a 4-star analyst with an average return of 10.4% and a 54.2% success rate. Rose covers the Healthcare sector, focusing on stocks such as ReShape Lifesciences Inc, Obalon Therapeutics Inc, and Zimmer Biomet Holdings.

Rewalk Robotics has an analyst consensus of Moderate Buy, with a price target consensus of $2.25.

Based on Rewalk Robotics’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $1.52 million and GAAP net loss of $6.16 million. In comparison, last year the company earned revenue of $1.59 million and had a GAAP net loss of $8.54 million.

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ReWalk Robotics Ltd. engages in the design, development, and marketing of wearable robotic exoskeletons. Its product brand name includes Argo’s ReWalk. The company was founded by Amit Goffer on June 20, 2001 and is headquartered in Yokneam Ilit, Israel.