UPDATE: Cantor Fitzgerald Starts PAVmed (PAVM) at Overweight
- Nasdaq ends at record high as Big Tech roars back
- Sanderson Farms (SAFM) Explores Sale - Report
- Bitcoin (BTC) Cracks $30,000 to Hit 6-Month Low, Here Are Next Targets Lower
- Dollar lower as Powell reaffirms pledge to not raise rates too quickly
- Splunk (SPLK) Lands $1 Billion From Silver Lake, Announces Buyback One Day After Activist Rumors Surface
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."
Shares of PAVmed closed at $4.17 yesterday.
You May Also Be Interested In
- Stifel Resumes Healthcare Services Group (HCSG) at Hold
- Anhui Jianghuai Automobile Group Co Ltd (600418:CH) PT Lowered to RMB7 at Morgan Stanley
- Best Solar Stocks to Invest in 2021? Wall Street Weighs In
Create E-mail Alert Related CategoriesAnalyst Comments, Hot New Coverage, New Coverage
Related EntitiesCantor Fitzgerald, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!