Maxim Group Sticks to Its Hold Rating for Restoration Robotics Inc (HAIR)

By Carrie Williams

In a report released yesterday, Anthony Vendetti from Maxim Group maintained a Hold rating on Restoration Robotics Inc (HAIRResearch Report). The company’s shares opened today at $0.53, close to its 52-week low of $0.35.

Vendetti said:

“Market close, HAIR reported mixed 1Q19 results, with revenue below expectations, gross margin well-above expectations, and GAAP EPS inline. The company announced it sold 14 ARTAS Systems, including 11 ARTAS iX Systems. This included 8 in the U.S. and 3 in EMEA. We are awaiting more detail regarding the pending Venus Concept merger, which dramatically changes the company. We are maintaining our Hold rating since we are unable to gain full visibility into the potential combined company.”

According to TipRanks.com, Vendetti is a 4-star analyst with an average return of 4.0% and a 49.0% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Ellex Medical Lasers Limited, Xtant Medical Holdings, and Ra Medical Systems Inc.

Restoration Robotics Inc has an analyst consensus of Hold, with a price target consensus of $1.

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Based on Restoration Robotics Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $7.98 million. In comparison, last year the company had a GAAP net loss of $7.43 million.

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Restoration Robotics, Inc. manufactures and develops medical devices for hair transplantation services. It provides artas system, a computer-assisted, physician-controlled system to harvest follicular units directly from the scalp. It operates in the United States, Europe and Middle East, Asia pacific, and Rest of the World.