- The stock price of Titan Medical (NASDAQ: TMDI) increased by over 15% pre-market. This is why it happened.
The stock price of Titan Medical (NASDAQ: TMDI) increased by over 15% pre-market. Investors appear to be responding to an analyst research report.
Oppenheimer analyst Suraj Kalia had initiated coverage of Titan Medical with an “Outperform” rating and $4 price target. Kalia cited Titan as being an emerging player in the robotic surgery space as the company’s Enos system is the only other single-port robotic surgery platform beside the Intuitive Surgical da Vinci SP.
Kalia also noted that key to the investment story is Titan Medical’s strategic partnership agreement with Medtronic, which was announced last year. As part of that deal, Titan Medical is required to develop key prototypes for Medtronic’s robotic surgery program.
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