Femasys (FEMY – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst on June 25. Analyst Jason McCarthy from Maxim Group maintained a Buy rating on the stock and has a $3.00 price target.
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Jason McCarthy has given his Buy rating due to a combination of factors including the recent EU approval of Femasys’s FemBloc system, which marks a significant milestone for the company. This approval allows the company to commercially launch its non-surgical permanent birth control solution in select European markets, starting with Spain, enhancing its market presence and potential revenue streams.
Additionally, the ongoing progress towards FDA approval in the US for FemBloc, along with the expansion of FemaSeed, Femasys’s infertility treatment, further strengthens the company’s growth prospects. The recent partnership with Carolinas Fertility Institute to offer FemaSeed at multiple locations in North Carolina exemplifies the company’s strategic efforts to broaden access and adoption of its innovative solutions. These developments, coupled with a recent equity financing that bolstered the company’s cash position, provide a solid foundation for future growth, justifying the Buy rating.
In another report released on June 25, H.C. Wainwright also maintained a Buy rating on the stock with a $12.00 price target.