Treace Medical Concepts (TMCI) is jumping 7.5% after investment bank BTIG upgraded the shares to Buy from Neutral.

Why BTIG Upgraded the Shares

Treace provides technology that facilitates Lapiplasty bunion surgery and related midfoot deformities. The company recently introduced a new technique called the SpeedAkin™ Anatomic Compression Implant. The "implant broadens the procedural versatility of Treace’s flagship SpeedPlate™ fixation platform," Treace reported.

A specialist operating a modern medical device in a clinical setting.

Specifically, it helps "stabilize the Akin osteotomy during healing," the company stated. The Akin osteotomy "corrects the sideways deviation of the big toe."

BTIG is bullish on the changes made by the company recently in response to intensified competition, saying that the moves have improved its outlook.

BTIG is also upbeat on the company's upcoming products and believes that the firm is well-positioned to increase its reimbursements from payors. BTIG also reports that its survey about Treace's offering yielded positive results.

The investment bank placed a $16 price target on Treace Medical.

Additional Information About TMCI

Analysts on average expect the company's revenue to rise to $225 million this year from $208 million in 2024.

In the last month, the shares have risen 35%, while they have jumped 80% in the last three months. However, they are down 28% in the last year.

While we acknowledge the potential of TMCI, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than TMCI but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.