Roth Capital Maintains Buy On Iradimed’s Shares, $14 PT
In a research report issued today, Roth Capital analyst Chris Lewis maintained a Buy rating on Iradimed Corp (NASDAQ:IRMD) with a $14.00 price target.
Lewis noted, “IRMD announced it has received a warning letter from the FDA relating to an April 2014 inspection that states a new 510(k) submission is required for the company’s IV infusion pump systems and requests the company immediately cease commercial distribution of its devices. We provide our initial thoughts below, and will update our model, price target, and valuation in the coming days as we gain more clarity on this regulatory matter.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Chris Lewis has a total average return of -5.3% and a 46.2% success rate. Lewis has an average return when recommending IRMD, and is ranked #3062 out of 3253 analysts.