EDAP TMS S.A. (EDAP) PT Lowered to $14 at H.C. Wainwright

H.C. Wainwright analyst Swayampakula Ramakanth lowered the price target on EDAP TMS S.A. (NASDAQ: EDAP) to $14.00 (from $19.00) while maintaining a Buy rating.

The analyst comments "Executing on strategy to grow the core Focal One business. On May 15, EDAP reported 1Q25 financials and provided a corporate update. Management is executing on multiple fronts to grow its core Focal One business by improving the Focal One technology platform; initiating an alpha launch in endometriosis; and by continued growth in placements. During the 2025 annual meeting of American Urological Association the company launched Focal Once I Robotic HIFU system, a next-generation platform that has compatibility with different imaging systems, such as ExactVu, PSMA PET Scans as well capability to integrate different datasets like DynaCAD. We believe these additional features could make the Focal One system more versatile as well as increase its utility in the Urology surgical center. The company, taking advantage of the recent receipt of CE Mark certification, has initiated a controlled market launch of Focal One for the treatment of deep infiltrating endometriosis in a small group of treatment centers in Europe to generate some clinical data as management prepares for a broader launch in countries that honor the CE Mark. We believe the knowledge gained could also be used in designing a randomized control Phase 3 study as part of the regulatory pathway to gain US marketing approval. Model update. To account for management's de-emphasizing the non-core businesses, we lower our ESWL and distribution related revenue estimates for 2025 and beyond. Accordingly, total revenues grow to €212M in 2031 compared to our prior estimate of €260M. As a result, our current 12-month price target is now $14 per diluted ADS compared to prior $19 per diluted ADS."`

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