Analyst Bill Sutherland from Benchmark Co. reiterated a Buy rating on HeartBeam (BEAT – Research Report) and keeping the price target at $8.00.
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Bill Sutherland has given his Buy rating due to a combination of factors that highlight HeartBeam’s promising prospects. The company is on track for a pilot commercial launch later this year, following the FDA’s 510(k) clearance for its innovative arrhythmia assessment system. This device, which offers 12-lead ECG accuracy without cables, positions HeartBeam well in the market.
Moreover, HeartBeam’s strategic collaboration with AccurKardia aims to enhance its device with advanced ECG algorithms, potentially expediting product development and reducing costs. The successful results from the VALID-ECG Pivotal Study further support the clearance of their 12-lead synthesis software, demonstrating high agreement with standard ECGs. Financially, the company has strengthened its position with a recent capital raise, and its commercial strategy is taking shape with plans to focus initially on concierge and preventive cardiology practices.
According to TipRanks, Sutherland is an analyst with an average return of -2.9% and a 39.47% success rate. Sutherland covers the Healthcare sector, focusing on stocks such as AMN Healthcare Services, Surgery Partners, and Clinigence Holdings.