H.C. Wainwright analyst Yi Chen reiterated a Buy rating on Icecure Medical today and set a price target of $2.00.
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Yi Chen’s rating is based on several key considerations surrounding IceCure Medical’s prospects. Despite a revenue shortfall in the second quarter of 2025, largely due to geopolitical disruptions, the company is actively pursuing FDA approval for its ProSense system, which is designed for treating early-stage low-risk breast cancer. The FDA has requested a post-market study, and a decision is anticipated by the end of 2025, which could significantly impact the company’s market position. Additionally, IceCure’s partner in Japan, Terumo, is expected to seek regulatory approval for the same system, potentially expanding its market reach.
Furthermore, an advisory panel has shown support for the ProSense system, with a majority voting in favor of its benefits outweighing the risks. Financially, IceCure has bolstered its cash position through a recent rights offering, providing an operational runway into 2026. The valuation of the company, based on a discounted cash flow analysis, suggests a market value of $164 million, leading to a price target of $2 per share. These factors collectively underpin Yi Chen’s Buy rating, despite inherent risks such as regulatory hurdles and market competition.
In another report released yesterday, Maxim Group also reiterated a Buy rating on the stock with a $3.00 price target.