JMP Securities Starts AtriCure Inc. (ATRC) at Market Outperform

JMP Securities analyst Daniel Stauder initiates coverage on AtriCure Inc. (NASDAQ: ATRC) with a Market Outperform rating and a price target of $60.00.

The analyst comments "We initiate coverage of AtriCure with a Market Outperform rating and $60 price target. Representing the number one player in treating complex forms of atrial fibrillation (Afib), the company has carved out a dominant position in two major legacy cardiac arenas that are still growing at a very healthy clip, and where it is primarily the only game in town. In tandem with these core focuses, there are also two emerging opportunities that represent even larger total addressable markets than ATRC's historical arenas, which we view as potential upside to the company's already impressive growth profile. In addition, the company has a strong balance sheet, has focused on driving operating leverage, and expects 2023 to be its first year with positive adjusted EBITDA. Our $60 price target is based on an EV/Revenue multiple of ~5x on our 2025E sales of $522 mln (+15% y/y)."

For an analyst ratings summary and ratings history on AtriCure Inc. click here. For more ratings news on AtriCure Inc. click here.

Shares of AtriCure Inc. closed at $35.56 yesterday.

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