Procept BioRobotics initiated with an Overweight at Stephens

Stephens analyst Mason Carrico initiated coverage of Procept BioRobotics (PRCT) with an Overweight rating and $70 price target The firm expects the company to post “robust” growth and margin expansion as adoption of Aquablation continues to expand. Aquablation is disrupting the benign prostatic hyperplasiamarket by taking share from existing procedures and capturing patients who historically delayed or avoided surgery, the analyst tells investors in a research note. Stephens believes expanding into prostate cancer has the potential to drive meaningful growth for Procept longer-term.