UPDATE: Cantor Fitzgerald Starts PAVmed (PAVM) at Overweight

March 29, 2021 4:38 PM EDT
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Price: $6.51 +0.15%

Rating Summary:
    6 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 10 | Down: 11 | New: 50
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(Updated - March 29, 2021 4:38 PM EDT)

Cantor Fitzgerald analyst Kyle Mikson initiates coverage on PAVmed (NASDAQ: PAVM) with a Overweight rating and a price target of $8.00.

The analyst comments "The company employs a unique business model that emphasizes capital efficiency and speed to market for its medical device products. PAVmed's subsidiary, Lucid Diagnostics, offers a diagnostic test and cell collection device to detect Barrett's Esophagus (BE), a precursor of esophageal adenocarcinoma (EAC). We believe Lucid's products could enable widespread BE-EAC screening (a large unmet need). PAVM recently announced it intends to spin off Lucid into a separate company, which we think would drive value for both sides. PAVmed aims to maintain majority ownership, and thus will continue to consolidate Lucid's financial results with its own. Separately, PAVM recently launched a minimally invasive device, CarpX, to treat Carpal Tunnel Syndrome (CTS) with clinical performance similar to invasive open surgery. We believe that CarpX could expand the addressable market to patients who choose to avoid surgery given the complexity and risks of traditional CTS treatment. The company is also developing multiple pipeline products, which we view as promising as well. Given PAVM's near-term catalysts and long-term growth drivers, we believe the shares are compelling."

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

Shares of PAVmed closed at $4.17 yesterday.

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