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 several positive indicators for REPRO-MED Systems. The company has demonstrated strong revenue growth, particularly with a 27% increase in the last quarter, surpassing expectations. This growth is driven by robust performance in international markets, with significant gains in Europe as the region transitions to pre-filled syringes, a trend KRMD is well-positioned to capitalize on. Additionally, the company has raised its revenue guidance, reflecting confidence in continued growth through market share gains and new collaborations.
Furthermore, KRMD’s ongoing innovation and development efforts, including multiple expected 510(K) submissions and new drug additions to its FREEDOM platform, contribute to a positive outlook. The company’s recent pilot study in the oncology sector showed promising results, indicating potential for workflow efficiencies and expanded use of its technology. These factors, combined with conservative revenue guidance and strong cash position, support the Buy rating as KRMD is set up for continued success in the coming quarters.
According to TipRanks, Cronin is a 3-star analyst with an average return of 6.5% and a 51.35% success rate. Cronin covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Establishment Labs Holdings, and AxoGen.
In another report released yesterday, Lake Street also reiterated a Buy rating on the stock with a $6.00 price target.