Josh Jennings, an analyst from TD Cowen, maintained the Buy rating on Stereotaxis. The associated price target remains the same with $5.00.
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Josh Jennings has given his Buy rating due to a combination of factors that highlight Stereotaxis’s promising financial and strategic position. The company reported significant revenue growth in the second quarter, with a 95% increase from the previous year, surpassing market expectations. This growth was driven by the successful installation of the GenesisX system in Europe and the early sales of the Magic catheter, which is now utilized in 30% of the company’s accounts.
Additionally, Stereotaxis achieved a major regulatory milestone with the US clearance of the Magic Sweep, setting the stage for further approvals in the US and EU by the end of the year. These developments are expected to contribute to a breakout year in 2026. The company’s financial health is further supported by a strong cash position of $18.8 million with no debt, following a successful direct offering. Stereotaxis’s commitment to double-digit revenue growth and strategic priorities for 2025-26 further reinforce Jennings’s positive outlook.
In another report released yesterday, Lake Street also reiterated a Buy rating on the stock with a $4.00 price target.