Edap Tms SA (ADR) (NASDAQ:EDAP), the global leader in therapeutic ultrasound, today announced that Eric Soyer, Chief Financial Officer, has resigned from the Company to accept a top management position at a publicly traded biotechnology company. To ensure a smooth transition, Mr. Soyer will remain with the Company through August 31, 2015.
“Eric has been a key member of our leadership team for nearly ten years. During that time, he has built a highly capable finance team, and been instrumental in establishing and implementing our financial reporting policies and internal controls. We are confident in the quality of this team to ensure a seamless transition,” said Marc Oczachowski, Chief Executive Officer of EDAP.
The Company aims to appoint a permanent successor in the near future.
“On behalf of EDAP’s management and Board, we thank Eric for his contributions, congratulate him on this new opportunity and wish him well in his next endeavor,” added Philippe Chauveau, Chairman of the Board. (Original Source)
Shares of EDAP TMS S.A. closed yesterday at $3.26. EDAP has a 1-year high of $6.05 and a 1-year low of $1.15. The stock’s 50-day moving average is $3.32 and its 200-day moving average is $3.20.
On the ratings front, H.C. Wainwright analyst Swayampakula Ramakanth reiterated a Buy rating on EDAP, with a price target of $4.50, in a report issued on May 15. The current price target implies an upside of 38.0% from current levels.
According to TipRanks.com, Ramakanth has a total average return of 10.4%, a 46.3% success rate, and is ranked #884 out of 3688 analysts.
Edap TMS SA is a holding company. The Company through its divisionsHIFU and UDS,develops, produces and markets minimally invasive medical devices for urological diseases. Its divisionsoperate in Europe, the Americas, Asia and the rest of the world.