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TransEnterix Stock Rose 5.41% after Its Corporate Update

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Stock performance

Today, TransEnterix (TRXC) stock touched $5.94, which represents ~5.41% growth from yesterday’s close of $5.64. On October 1, TransEnterix stock closed at $5.64, which represents ~344.0% growth from its 52-week low of $1.27 on February 9. TransEnterix hit its 52-week high of $6.98 on September 25.

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TRXC provided its corporate update

On October 1, TransEnterix (TRXC) provided its corporate update and announced the sales of four Senhance Surgical Robotic Systems in the third quarter. TransEnterix also provided its third-quarter revenue estimates. The company expects to report net revenues of ~$5.4 million in the third quarter, primarily supported by the sales of the four Senhance Surgical Robotic Systems.

In September, TransEnterix entered into an agreement with MST Medical Surgery Technologies (or MST), an Israel-based medical technology company. As part of this agreement, TransEnterix would acquire all of MST’s assets. 

The acquisition of MST by TransEnterix brings MST’s intellectual property and R&D team on board. MST’s intellectual property and R&D team can significantly accelerate the development of TransEnterix’s Senhance Surgical System for digital laparoscopy.

Important developments in Q3 2018

In the third quarter, TransEnterix (TRXC) strengthened its instrument portfolio systems with the expansion of the instruments included in its Senhance Ultrasonic Instruments System. TransEnterix received FDA clearance of the Senhance Ultrasonic Instruments System in September, and it received the CE Mark for this instrument on October 1.

TransEnterix expects to receive FDA clearance and the CE Mark for its 5mm diameter articulating instrument, another Senhance System instrument, by the end of 2018.

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Analysts’ recommendations

In October, five analysts track TransEnterix stock. One analyst recommends a “strong buy,” one analyst recommends a “buy,” and three analysts recommend a “hold” rating for TransEnterix stock.

On October 1, TransEnterix had a consensus 12-month target price of $6.17, which represents ~4.05% growth over the next 12 months.

Peers’ ratings

Eighteen analysts tracked Intuitive Surgical (ISRG) stock in September. About 61.0% of these analysts recommended a “buy.” All six analysts tracking Mazor Robotics (MZOR) stock during the month recommended a “hold” rating. Of the 17 analysts tracking NuVasive (NUVA) stock in September, ~47.0% recommended a “buy.”

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