Helius Medical Technologies (HSDT) stock surged on Wednesday after the neurotech company announced an authorized claim for payment for its Portable Neuromodulation Stimulator (PoNS) from CVS Health (CVS)-owned Aetna Healthcare. This is the third time a major healthcare provider has offered to cover PoNS for a patient.
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Dane Andreeff, President and CEO of Helius Medical Tech, said, “We are actively pursuing broader in-network coverage for PoNS at list price from major commercial payers, while continuing to negotiate reimbursement on a case-by-case basis.” PoNS is an orally applied therapy that delivers neurostimulation via a non-implantable mouthpiece.
HSDT stock rocketed 98.82% during pre-market trading on Wednesday. That’s a welcome change from its 91.50% drop year-to-date and 94.88% fall over the past 12 months.
Is Helius Medical Technologies Stock a Buy, Sell, or Hold?
Wall Street’s coverage of Helius Medical Technologies is thin, but TipRanks’ AI analyst Spark fills that gap. Spark rates HSDT stock an Underperform (38) with a $1 price target. The AI analyst cites “significant financial and operational challenges” as reasons for this rating and price.
See what else Spark has to say about HSDT stock
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