Carlsmed initiated with a Buy at BTIG

BTIG initiated coverage of Carlsmed (CARL) with a Buy rating and $21 price target The firm views the company as “differentiated” in the $13.4B lumbar spinal implant market. Carlsmed is commercializing its FDA approved Aprevo platform, which combines artificial intelligence-driven pre-operative planning software with patient-specific interbody implants, the analyst tells investors in a research note. BTIG believes Carlsmed has solved many of the issues that have prevented the scale of customized musculoskeletal implants in the past.