Microbot Medical price target raised to $12 from $9 at H.C. Wainwright

H.C. Wainwright analyst Raghuram Selvaraju raised the firm’s price target on Microbot Medical (MBOT) to $12 from $9 and keeps a Buy rating on the shares after the FDA granted 510(k) clearance for the company’s Liberty System. This is the first FDA-approved, single-use, remotely operated robotic system for peripheral endovascular procedures, the analyst tells investors in a research note. The firm says the initial addressable market comprises 2.5M peripheral endovascular procedures annually in the U.S.