Analyst Caitlin Cronin of Canaccord Genuity maintained a Buy rating on REPRO-MED Systems, retaining the price target of $5.00.
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Caitlin Cronin’s rating is based on a combination of factors that highlight REPRO-MED Systems’ strategic positioning and growth potential. The company is gaining traction in both domestic and international markets, particularly in the core SCIg market, which is expected to continue its growth trajectory. KRMD’s ability to surpass market growth through new patient starts and increased market share is a significant driver of its positive outlook.
Moreover, KRMD is actively pursuing innovation with multiple 510(K) submissions anticipated in the coming years, which include new drug label additions and next-generation product developments. The company’s pipeline expansion into areas like Iron Chelation and Antibiotics, alongside its ongoing oncology pilot program, underscores its commitment to broadening its market reach. Additionally, the robust growth in the European market, driven by the transition to prefilled syringes, positions KRMD to capitalize on new opportunities and enhance its market share. These strategic initiatives, coupled with expected operational cash flow improvements, form the basis for the Buy rating.
According to TipRanks, Cronin is a 3-star analyst with an average return of 3.7% and a 51.00% success rate. Cronin covers the Healthcare sector, focusing on stocks such as InMode, Zimmer Biomet Holdings, and Globus Medical.
In another report released on August 7, Lake Street also reiterated a Buy rating on the stock with a $6.00 price target.