Analyst Matthew Taylor of Jefferies maintained a Buy rating on Establishment Labs Holdings (ESTA – Research Report), with a price target of $61.00.
Matthew Taylor’s rating is based on several positive indicators for Establishment Labs Holdings. The company has shown impressive progress with the US launch of its Motiva product, which is ahead of schedule. This rapid expansion is evident as the company has increased its US accounts significantly, with a notable rise in the number of accounts placing orders. The swift pace of signing new accounts and expanding the sales force indicates strong market penetration and potential for growth.
Furthermore, Taylor highlights the potential upside in US sales, which could exceed initial guidance. The company’s performance in other developed markets, such as Switzerland, South Korea, and Taiwan, where it achieved substantial market share despite competition, suggests a promising outlook for similar success in the US. These factors, combined with a robust pipeline and international momentum, underpin Taylor’s Buy rating for ESTA.
In another report released on March 23, TD Cowen also maintained a Buy rating on the stock with a $60.00 price target.
ESTA’s price has also changed slightly for the past six months – from $41.195 to $39.920, which is a -3.10% drop .