Analyst Nathan Treybeck from Wells Fargo maintained a Buy rating on PROCEPT BioRobotics (PRCT – Research Report) and decreased the price target to $75.00 from $105.00.
Nathan Treybeck’s rating is based on the promising potential of PROCEPT BioRobotics’ aquablation technology in treating prostate cancer (PCa). During an investor meeting at the American Urological Association, a panel of urologists highlighted aquablation as a novel approach that could effectively address both the peripheral and transitional zones of the prostate while preserving critical structures. This technique aims to provide a safer alternative to radical prostatectomy, with the potential to achieve near-total prostate resection.
Nathan Treybeck also noted the significant market opportunity for aquablation in PCa, estimating a $700 million addressable market in the US alone. With a prevalence of over 3 million men and an annual incidence of 300,000 cases, the potential for adoption is substantial. Furthermore, the company is optimistic about accelerating clinical trial timelines and achieving broader adoption, supported by established reimbursement frameworks. These factors collectively underpin the Buy rating for PRCT’s stock.
According to TipRanks, Treybeck is a 4-star analyst with an average return of 15.0% and a 44.00% success rate. Treybeck covers the Healthcare sector, focusing on stocks such as Nevro Corp, Lemaitre Vascular, and PROCEPT BioRobotics.
In another report released today, Piper Sandler also maintained a Buy rating on the stock with a $80.00 price target.