Oppenheimer Starts Procept BioRobotics Corp (PRCT) at Perform

Oppenheimer analyst Suraj Kalia initiates coverage on Procept BioRobotics Corp (NASDAQ: PRCT) with a Perform rating.

The analyst comments "We are initiating coverage of PRCT with a Perform rating. PROCEPT has pioneered the Aquablation image-guided high-pressure, non-thermal waterjet ablation system for benign prostatic hyperplasia (BPH) treatment. BPH manifests as progressive enlargement of the prostate gland in men, ultimately leading to symptoms such as urinary obstruction, incomplete voiding, and poor quality of life. Aquablation's clinical value proposition has been robustly demonstrated in multiple clinical trials, with an impressive 4-year revenue CAGR of ~75%. FY25 guidance at $323M seems conservative, and a Q2 beat is expected. Our rating reflects our assessment of risk-reward at these levels—we are constructive on the science, but need to get comfortable with utilization in a fragmented market and the risks with a potential 20% cut to physician payment rates."

For an analyst ratings summary and ratings history on Procept BioRobotics Corp click here. For more ratings news on Procept BioRobotics Corp click here.

Shares of Procept BioRobotics Corp closed at $57.92 yesterday.

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