Surgalign initiated with a Buy at H.C. Wainwright

H.C. Wainwright analyst Swayampakula Ramakanth initiated coverage of Surgalign with a Buy rating and $3.50 price target. Surgalign is a pure-play global spine company focused on developing digital health solutions for spine surgery and commercializing spinal implants and orthobiologics used in spinal fusion and motion preservation surgeries, Ramakanth tells investors in a research note. The analyst believes the new management team has "embarked on a strategy to execute a turnaround." He believes Surgalign at the current market capitalization of $10M is "significantly undervalued and provides an attractive entry point for long-term investors."