Hyperfine (HYPR) has received a new Buy rating, initiated by Lake Street analyst, Frank Takkinen.
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Frank Takkinen has given his Buy rating due to a combination of factors that highlight Hyperfine’s potential for growth and market expansion. The company’s Swoop system, an ultra-low field MRI technology, is positioned to become a standard in brain health diagnostics, offering significant advantages in critical care and pediatric settings. With over 175 placements globally, Hyperfine is poised to expand its total addressable market (TAM) significantly by targeting new indications such as Alzheimer’s and stroke, which could add billions to their market potential.
Furthermore, the company’s strategic refocus under new leadership aims to stabilize sales, invest in clinical applications to expand TAM, and reduce operational expenses. The recent improvements in imaging quality, driven by AI optimizations and multiple FDA clearances, enhance the system’s diagnostic capabilities, creating a competitive edge. The restructuring efforts and cost reductions are expected to drive commercial success, improve margins, and leverage growth, supporting the Buy rating with a price target of $1.50.
Takkinen covers the Healthcare sector, focusing on stocks such as REPRO-MED Systems, NeuroPace, and ClearPoint Neuro. According to TipRanks, Takkinen has an average return of 3.7% and a 39.74% success rate on recommended stocks.
In another report released on March 19, B.Riley Financial also maintained a Buy rating on the stock with a $1.20 price target.