Sean Lee CFA, an analyst from H.C. Wainwright, reiterated the Buy rating on Alphatec Holdings. The associated price target remains the same with $24.00.
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Sean Lee CFA has given his Buy rating due to a combination of factors tied to Alphatec’s strong recent performance and promising outlook. He highlights that the company closed 2025 with revenue modestly above guidance and consensus, underpinned by robust double-digit growth in surgical volumes and improved revenue per procedure. This operational momentum has translated into meaningful EBITDA generation, positive free cash flow in the latest quarter, and a cash balance that he views as sufficient to fund operations for several years.
Sean Lee CFA’s rating is based on management’s 2026 outlook, which calls for continued double-digit revenue expansion, further EBITDA improvement, and rising free cash flow, all of which are expected to strengthen the balance sheet. He also points to the new exclusive distribution agreement for OsteoAdapt as a strategic step that expands Alphatec’s spinal biologics offering and could enhance surgeon adoption of its broader platform. Finally, his $24 price target is supported by a blended valuation framework using both EV-to-sales and discounted cash flow analyses, which together indicate meaningful upside from current levels despite acknowledged commercial, partnership, regulatory, and financial risks.
In another report released yesterday, Needham also reiterated a Buy rating on the stock with a $22.00 price target.