UPDATE: H.C. Wainwright Starts Asensus Surgical inc. (ASXC) at Buy

May 26, 2021 6:12 AM EDT
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Price: $1.88 --0%

Rating Summary:
    1 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 9 | Down: 9 | New: 34
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(Updated - May 26, 2021 6:31 AM EDT)

H.C. Wainwright initiates coverage on Asensus Surgical inc. (NYSE: ASXC) with a Buy rating and a price target of $4.00.

The analyst comments "Asensus, a surgical robotics company, is digitizing laparoscopy with its lead product, Senhance. Senhance is designed to not only address limitations of traditional laparoscopy but also improve on the weaknesses of other surgical robots, such as the lack of haptic feedback and high recurring costs. While Intuitive Surgical’s (ISRG; not rated) Da Vinci has helped convert open surgery to minimally invasive surgery, Senhance is designed to digitize and utilize similar instruments used by laparoscopic surgeons, which substantially reduces their learning curve and makes the surgery safer and predictable. With roughly 16M global laparoscopic procedures performed annually, Asensus has a significant market opportunity. We project total revenues to reach $697M in 2030 from $6M in 2021."

For an analyst ratings summary and ratings history on Asensus Surgical inc. click here. For more ratings news on Asensus Surgical inc. click here.

Shares of Asensus Surgical inc. closed at $2.03 yesterday.

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