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.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
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.
