In a report released today, Ram Selvaraju from H.C. Wainwright reiterated a Buy rating on Microbot Medical (MBOT – Research Report), with a price target of $9.00.
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Ram Selvaraju’s rating is based on the impressive results from Microbot Medical’s pivotal trial for their LIBERTY endovascular robotic system, which demonstrated a 100% success rate in robotic navigation. The trial, conducted at prestigious medical centers, showed that LIBERTY not only met its primary endpoint but also significantly reduced radiation exposure, with no adverse device events reported. The high satisfaction rate among participating physicians further underscores the system’s potential for market adoption.
Additionally, the submission of a 510(k) premarket notification to the FDA for LIBERTY, expected to receive marketing clearance by the second quarter of 2025, positions the company well for future growth. The system’s innovative design targets a substantial market of over two million peripheral vascular procedures annually in the U.S., offering advantages over existing capital equipment. With an increased probability of FDA approval and a strong cash position to support operations into 2027, Selvaraju reiterates a Buy rating with a price target of $9.
Selvaraju covers the Healthcare sector, focusing on stocks such as Vanda, Axsome Therapeutics, and Anavex Life Sciences. According to TipRanks, Selvaraju has an average return of -5.7% and a 29.76% success rate on recommended stocks.