H.C. Wainwright Maintains Buy On EDAP Following 3Q14 Financial Update


In a research report issued today, H.C. Wainwright analyst Swayampakula Ramakanth maintained a Buy rating on EDAP TMS S.A. (NASDAQ:EDAP) with a price target of $4.50, following the company’s third-quarter results, posting revenues of €6.9 million compared to €5.6 million in 3Q13.

Ramakanth noted, “Accounting for 3Q14 actual financials and adjusting the model, we expect 2014 revenues of €29.9 million and EPS of €0.06.”

The analyst continued, “The company has initiated collection of all relevant data that is required to amend the Pre-Marketing Approval (PMA) application for marketing Ablatherm in the US. Note that the Food and Drug Administration (FDA) while not approving Ablatherm device for the primary treatment of low-risk localized prostate cancer indication that the company asked for, provided the company guidance on amending the PMA application for use in treating localized prostate cancer with greater risk of morbidity and/or mortality. The FDA requires the additional information by April 29, 2015. We believe EDAP could potentially meet the deadline.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Swayampakula Ramakanth has a total average return of -16.1% and a 40.0% success rate. Ramakanth has a -39.9% average return when recommending EDAP, and is ranked #3208 out of 3363 analysts.

 

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