Edward Woo, an analyst from Ascendiant, maintained the Buy rating on ENDRA Life Sciences (NDRA – Research Report). The associated price target is $10.00.
Edward Woo has given his Buy rating due to a combination of factors, including ENDRA Life Sciences’ strong progress and potential in the medical imaging sector. Woo’s assessment recognizes the company’s innovative TAEUS platform, designed to provide clinicians with advanced imaging capabilities akin to CT and MRI but at a significantly lower cost and with the convenience of point-of-care use. Despite a lack of revenue as a late-stage development and early-stage commercialization company, the recent reduction in operating expenses and the advancement of TAEUS, particularly its application in characterizing fatty liver tissue, are promising indicators of the company’s future success.
Furthermore, Woo sees substantial value in the company’s strategic moves, such as the CE Mark approval for TAEUS in Europe and its distribution deal in Vietnam. Although the FDA’s decision on approval has been postponed, potentially to 2025, the groundwork for commercialization is being laid, which could catalyze the stock once regulatory hurdles are cleared. The large market opportunity for TAEUS, coupled with ENDRA’s solid balance sheet featuring cash reserves and no debt, presents a compelling case for investment. Woo’s analysis posits that the current valuation of ENDRA Life Sciences is attractive, balancing the high risks with high growth prospects and significant upside potential, as reflected in his maintained Buy rating and a 12-month price target.
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ENDRA Life Sciences (NDRA) Company Description:
ENDRA Life Sciences, Inc. develops medical imaging technology. It operates Thermo-Acoustic Enhanced UltraSound platform to enable clinicians to visualize human tissue composition, function and temperature. The company was founded on July 18, 2007 and is headquartered in Ann Arbor, MI.
