H.C. Wainwright Remains a Buy on Zynex Inc (ZYXI)

By Ryan Adsit

In a report released today, Yi Chen from H.C. Wainwright reiterated a Buy rating on Zynex Inc (ZYXIResearch Report), with a price target of $12.00. The company’s shares closed last Monday at $9.54.

According to TipRanks.com, Chen has 0 stars on 0-5 star ranking scale with an average return of -19.6% and a 23.7% success rate. Chen covers the Healthcare sector, focusing on stocks such as Aslan Pharmaceuticals Ltd ADR, EyePoint Pharmaceuticals Inc, and Stealth Biotherapeutics Corp.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Zynex Inc with a $12.00 average price target, a 22.3% upside from current levels. In a report issued on October 22, B.Riley FBR also reiterated a Buy rating on the stock with a $12.00 price target.

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The company has a one-year high of $13.10 and a one-year low of $2.51. Currently, Zynex Inc has an average volume of 358.7K.

Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ZYXI in relation to earlier this year.

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Zynex (founded in 1996) engineers, manufactures, markets and sells its own design of medical devices in three subsidiaries. Zynex Medical is a provider of electrotherapy products for home use, Zynex Monitoring Solutions develops products for cardiac monitoring for use in hospitals and Zynex NeuroDiagnostics develops devices for EMG and EEG diagnostic purposes in the neurology clinic markets. Zynex Medical’s product line is fully developed, FDA-cleared, commercially sold, and has been developed to uphold the Company’s mission of improving the quality of life for patients suffering from impaired mobility due to stroke, spinal cord injury, or debilitating and chronic pain.