H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on Microbot Medical today and set a price target of $12.00.
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Ram Selvaraju has given his Buy rating due to a combination of factors including the recent granting of a patent in Japan for Microbot Medical’s LIBERTY System, which is a significant step in protecting and monetizing their technology on a global scale. This patent complements others recently obtained in the U.S., China, and Israel, strengthening the company’s intellectual property portfolio and potentially expediting local approvals and adoption in markets that consider FDA clearance.
Moreover, the LIBERTY System has received FDA clearance in the U.S., marking it as the first single-use, remotely operated robotic system for peripheral endovascular procedures. The system demonstrated 100% success in robotic navigation and a significant reduction in radiation exposure for physicians, which could enhance procedural efficiency and lower costs. With sufficient capital raised to support their commercial strategy, the company’s market value has increased, supporting a price target of $12 per share. However, potential risks include slower commercial uptake and dilution risk.