Craig-Hallum bullish on Neuraxis, initiates with a Buy

As previously reported, Craig-Hallum analyst Chase Knickerbocker initiated coverage of Neuraxis (NRXS) with a Buy rating and $7 price target The firm says this is a classic overlooked micro-cap medtech story that it believes will appear to be an overnight success story, though it was many years in the making. Neuraxis is introducing innovation into a space that does not get a lot of attention, namely pediatric functional abdominal pain. Craig-Hallum is highlighting the company’s product IB-Stim as a potentially transformative therapy for pediatric functional abdominal pain disorders. The company targets a $3.7B market in severely debilitated patients, and the firm believes Neuraxis could very realistically reach $130M in revenue at just 4% penetration.