Buy Rating for Icecure Medical: Anticipated FDA Approval and Strategic Partnerships Drive Positive Outlook

Analyst Yi Chen from H.C. Wainwright reiterated a Buy rating on Icecure Medical (ICCM – Research Report) and keeping the price target at $2.50.

Yi Chen has given his Buy rating due to a combination of factors surrounding Icecure Medical’s recent developments and future prospects. One of the key reasons is the anticipated FDA decision on the ProSense cryoablation system, expected in the second half of 2025. The company has already submitted its post-market study plan to the FDA, which is a crucial step towards obtaining marketing authorization for the treatment of early-stage low-risk breast cancer. This minimally invasive procedure has the potential to replace the current standard of care, lumpectomy, for a significant patient population in the U.S.
Additionally, the advisory panel’s positive stance on the ProSense system, with a majority of panelists supporting its benefits over risks, strengthens the likelihood of FDA approval. Icecure’s strategic partnerships, such as with Terumo in Japan, further enhance its market potential, as regulatory filings in Japan are also anticipated. Despite a slight decline in revenue, the company’s financial management, including recent fundraising efforts, positions it to capitalize on these upcoming opportunities. These factors collectively support Yi Chen’s Buy rating for Icecure Medical’s stock.

Chen covers the Healthcare sector, focusing on stocks such as Vivani Medical, Opko Health, and Clearside Biomedical. According to TipRanks, Chen has an average return of -13.3% and a 31.84% success rate on recommended stocks.

In another report released on May 27, Maxim Group also reiterated a Buy rating on the stock with a $3.00 price target.