Sensus Healthcare (SRTS – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Yi Chen from H.C. Wainwright remains neutral on the stock and has a $8.00 price target.
Yi Chen’s Buy rating for Sensus Healthcare is due to a combination of factors.
Despite a disappointing revenue return in 3Q23, Chen is optimistic about Sensus Healthcare’s future prospects. Despite these figures, the company’s management anticipates robust performance in 4Q23. Furthermore, Chen expects the company to dispatch approximately 60 SRT systems in 2023. The potential for expansion into new geographical markets, including Europe, Latin America, Asia, and South America, adds to the company’s potential for growth.
Chen is also positive about the company’s product development, particularly the TransDermal Infusion drug delivery system which could receive marketing clearance in early 2024. The system, embedded in the company’s latest lasers, facilitates the application of regenerative products to the scalp in a non-painful hair restoration procedure. Furthermore, Chen considers Sensus Healthcare’s financial position to be strong, with $20.5M in cash as of September 2023 and a $3.0M common stock repurchase program approved by the board of directors. Therefore, Chen believes the company has sufficient resources to fund near-term operations.
Chen covers the Healthcare sector, focusing on stocks such as Kiora Pharmaceuticals, Aslan Pharmaceuticals, and Icecure Medical. According to TipRanks, Chen has an average return of -33.2% and a 21.79% success rate on recommended stocks.
In another report released on November 10, Craig-Hallum also assigned a Buy rating to the stock with a $5.00 price target.
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Sensus Healthcare (SRTS) Company Description:
Sensus Healthcare, Inc. engages in the design, manufacture, and marketing of proprietary medical devices specializing in the treatment of non-melanoma skin cancers and other skin conditions. Its main product is SRT-100, a photon x-ray low energy superficial radiotherapy system that provides patients an alternative to surgery for treating basal cell and squamous cell skin cancers and other skin conditions such as keloids. The company was founded by Joseph C. Sardano, Richard Golin, Kalman Fishman and Stephen Cohen on May 7, 2010 and is headquartered in Boca Raton, FL.
Read More on SRTS:
- Sensus Healthcare price target lowered to $4 from $7 at Alliance Global
- Sensus Healthcare reports Q3 EPS (9c), consensus (2c)
- Sensus Healthcare Reports Third Quarter 2023 Financial Results
- SRTS Upcoming Earnings Report: What to Expect?
- Sensus Healthcare to Host Third Quarter 2023 Financial Results and Business Update Conference Call on Thursday, November 9, 2023
