Transenterix Inc (TRXC) is Downgraded by Lake Street to Hold, Price Target at $2

Transenterix Inc (TRXC) was Downgraded by Lake Street to ” Hold” and the brokerage firm has set the Price Target at $2. Earlier the firm had a rating of “Buy ” on the company shares. Lake Street advised their investors in a research report released on May 11, 2016.

Many Wall Street Analysts have commented on Transenterix Inc. Shares were Reiterated by Lake Street on Apr 21, 2016 to “Buy” and Lowered the Price Target to $ 2 from a previous price target of $7 .

Transenterix Inc closed down -0.14 points or -6.36% at $2.06 with 28,21,971 shares getting traded on Tuesday. Post opening the session at $2.26, the shares hit an intraday low of $2 and an intraday high of $2.31 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Nov 18, 2015, Andrea Biffi (director) purchased 25,000 shares at $2.82 per share price. According to the SEC, on Nov 16, 2015, Willam N Kelley (director) purchased 20,000 shares at $2.80 per share price. On Nov 12, 2015, Joseph P Slattery (CFO) purchased 15,000 shares at $2.77 per share price, according to the Form-4 filing with the securities and exchange commission.

TransEnterix Inc. is a medical device company focused on the development and commercialization of a robotic assisted surgical system called the SurgiBot System (the SurgiBot System). The Company’s SurgiBot System is designed to utilize flexible instruments through articulating channels controlled directly by the surgeon with robotic assistance while the surgeon remains patientside within the sterile field. It has commercialized the SPIDER Surgical System (the SPIDER System) a manual laparoscopic system in the United States Europe and the Middle East. The SPIDER System utilizes flexible instruments and articulating channels that are controlled directly by the surgeon allowing for multiple instruments to be introduced through a single site. It also offers Flex Ligating Shears (FLS) which is an energy device used with the existing SPIDER Surgical System. The FLS device is designed to deliver controlled energy to ligate and divide tissue.

Transenterix Inc

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