In a report released yesterday, Anthony Vendetti from Maxim Group maintained a Buy rating on Ra Medical Systems Inc (RMED), with a price target of $3. The company’s shares closed last Monday at $1.48, close to its 52-week low of $1.09.
Vendetti commented:
“Market close, RMED announced preliminary results with lower-than-expected DABRA sales. Moreover, the continuing manufacturing issues, which we believe led to the termination of the Committee investigation are also concerning.”
According to TipRanks.com, Vendetti is a 4-star analyst with an average return of 3.9% and a 46.4% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Ellex Medical Lasers Limited, Restoration Robotics Inc, and Xtant Medical Holdings.
Ra Medical Systems Inc has an analyst consensus of Moderate Buy, with a price target consensus of $2.17.
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The company has a one-year high of $22 and a one-year low of $1.09. Currently, Ra Medical Systems Inc has an average volume of 67.75K.
Based on the recent corporate insider activity of 19 insiders, corporate insider sentiment is negative on the stock.
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Ra Medical Systems, Inc. engages in the design, development, and commercialization of excimer lasers for the treatment of dermatologic and cardiovascular diseases. Its product, Pharos, is used for the treatment of difficult-to-treat, chronic diseases including psoriasis and vitiligo. It operates through the Dermatology and Vascular business segments.
