Maxim Group analyst Anthony Vendetti has reiterated their bullish stance on ICCM stock, giving a Buy rating today.
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Anthony Vendetti has given his Buy rating due to a combination of factors surrounding Icecure Medical’s recent achievements and future potential. The FDA’s marketing authorization for Icecure’s ProSense device, specifically for treating early-stage, low-risk breast cancer in older patients, marks a significant regulatory milestone. This approval not only validates the technology but also opens up the U.S. market for commercial marketing, which is expected to drive revenue growth.
Additionally, the company’s strategic focus on commercialization and the initiation of a post-market study, which will also serve as commercial partnerships, further solidifies its market presence. The reimbursement potential under CPT codes and the anticipated increase in reimbursement coverage further enhance the financial outlook. Vendetti’s confidence is also reflected in the compelling valuation, with a price target based on a DCF analysis that suggests a significant premium justified by the promising market opportunity and ProSense’s advantages over traditional surgical methods.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $2.50 price target.