TD Cowen analyst Josh Jennings maintained a Buy rating on Stereotaxis today and set a price target of $5.00.
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Josh Jennings has given his Buy rating due to a combination of factors including Stereotaxis’s strategic collaboration with CardioFocus to enhance its position in the electrophysiology market. This partnership aims to integrate robotic magnetic navigation with pulsed field ablation technology, which is expected to strengthen Stereotaxis’s leadership in complex ventricular ablation as the adoption of PFA grows.
Furthermore, the collaboration benefits from existing European CE Mark approvals for both the MAGiC catheter and the Centauri generator, which simplifies the regulatory process and accelerates the path to market. The focus on Europe as the initial commercial market, with plans for subsequent U.S. development, indicates a well-structured strategy to expand their market presence and capitalize on emerging opportunities in the field.
In another report released today, Lake Street also reiterated a Buy rating on the stock with a $4.00 price target.