IceCure Medical Ltd. (ICCM) PT Lowered to $2.77 at Brookline Capital Markets

Brookline Capital Markets analyst Kemp Dolliver lowered the price target on IceCure Medical Ltd. (NASDAQ: ICCM) to $2.77 (from $3.53) while maintaining a Buy rating.

The analyst comments "IceCure’s Q2 was mostly uneventful. The FDA has requested additional information regarding the post marketing study ICCM submitted in Q1. This has pushed back potential approval to EoY. In Japan, Terumo expects to file for regulatory approval of ProSense in H2:2025. Lastly, cash of $5.4MM as of June 30 plus proceeds from $10MM raised from a rights offering can fund operations past FDA approval of ProSense (excluding $10MM from the exercise of outstanding warrants). We reiterate our Buy rating and decrease our Target Price to $2.77 from $3.53 to reflect the recent rights offering."

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