UPDATE: BofA Securities Starts Rockley Photonics Holdings Ltd (RKLY) at Buy, Sees 56% Upside

September 17, 2021 6:02 AM EDT
Get Alerts RKLY Hot Sheet
Price: $7.05 +1.15%

Rating Summary:
    4 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 10 | New: 47
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(Updated - September 17, 2021 8:53 AM EDT)

BofA Securities analyst Vivek Arya initiates coverage on Rockley Photonics Holdings Ltd (NYSE: RKLY) with a Buy rating and a price target of $14.00.

Arya comments, "Rockley’s optical sensing platform targets a $32bn TAM in the monitoring of critical biomarkers via smart wearable devices. Unlike traditional LED solutions, RKLY’s integrated spectrophotometer and on-device analytics platform offers much higher resolution/accuracy, enabling healthcare clinic-on-the -wrist solution to monitor glucose and lactate levels, blood alcohol, core body temp, hydration and alcohol levels. RKLY is contracted/engaged with OEMs (Apple top customer) that control 60%+ of the smartphone and wearables market. RKLY is also exposed to medical device equipment manufacturers (contracted with 3 MedTech companies today including Medtronic), which could add $18bn to its TAM."

For an analyst ratings summary and ratings history on Rockley Photonics Holdings Ltd click here. For more ratings news on Rockley Photonics Holdings Ltd click here.

Shares of Rockley Photonics Holdings Ltd closed at $8.96 yesterday.



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