UPDATE: JPMorgan Downgrades Actus Medical (AFIB) to Underweight

JPMorgan analyst Robbie Marcus downgraded Actus Medical (NASDAQ: AFIB) from Neutral to Underweight.

The analyst comments "On the one hand, we continue to view Acutus’ technology as a revolutionary new way of mapping arrhythmias in a ~$5.7B global electrophysiology ablation market. While several mapping and ablation options are available, innovation in the space has remained largely stagnant in recent years and current offerings are only able to effectively map simple, stable arrhythmias. Acutus’ novel non-contact technology creates a clear picture of the anatomy of the heart and its electrical propagation patterns at four times the resolution of traditional voltage-based maps, enabling physicians to rapidly visualize complex, unstable arrhythmias. Despite this differentiated offering, significant challenges from the ongoing pandemic and recent commercial miss-steps have significantly impaired system placements and procedure utilization trends to-date, with the company’s commercial plan essentially delayed one-year from what was originally laid out at the start of 2021. We still feel confident in the long-term opportunity, but until we see more proof of execution on the commercial front, we assign an Underweight rating to AFIB shares."

For an analyst ratings summary and ratings history on Actus Medical click here. For more ratings news on Actus Medical click here.

Shares of Actus Medical closed at $3.64 yesterday.

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