Benchmark Co. analyst Bill Sutherland has maintained their bullish stance on BEAT stock, giving a Buy rating on November 21.
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Bill Sutherland has given his Buy rating due to a combination of factors surrounding HeartBeam’s recent developments. The company is actively addressing the FDA’s ‘Not Substantially Equivalent’ decision on its 12-lead ECG Synthesis Software by pursuing both a resubmission and an appeal process. The appeal is expected to be resolved within approximately 60 days, and management is optimistic about a positive outcome due to the clinical study meeting its endpoints.
Additionally, HeartBeam’s proactive approach in engaging with the FDA and its participation in upcoming investor conferences demonstrate a commitment to transparency and investor engagement. These strategic actions suggest that HeartBeam is well-positioned to overcome current regulatory hurdles, which supports the Buy rating.
According to TipRanks, Sutherland is an analyst with an average return of -2.8% and a 40.88% success rate. Sutherland covers the Healthcare sector, focusing on stocks such as HeartBeam, Cross Country Healthcare, and Healthcare Services.
In another report released on November 21, Roth MKM also maintained a Buy rating on the stock with a $6.00 price target.