Maxim Group Thinks Ra Medical Systems Inc’s Stock is Going to Recover

By Ryan Adsit

Ra Medical Systems Inc (NYSE: RMED) received a Buy rating and a $23 price target from Maxim Group analyst Anthony Vendetti today. The company’s shares closed yesterday at $10.55, close to its 52-week low of $10.35.

Vendetti noted:

“Ra Medical is a medical device company utilizing its excimer laser-based platform for the treatment of vascular and dermatological diseases. Pharos is the company’s original excimer laser system marketed for the treatment of dermatological skin disorders since 2004. DABRA—the company’s primary long-term opportunity—leverages the same excimer laser as Pharos, but includes a single-use catheter for the endovascular treatment of vascular blockages.”

According to TipRanks.com, Vendetti is a 5-star analyst with an average return of 11.3% and a 56.2% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Ellex Medical Lasers Limited, Restoration Robotics Inc, and Xtant Medical Holdings.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Ra Medical Systems Inc with a $20 average price target, an 89.6% upside from current levels. In a report issued on October 22, Cantor Fitzgerald also initiated coverage with a Buy rating on the stock with a $21 price target.

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The company has a one-year high of $22 and a one-year low of $10.35. Currently, Ra Medical Systems Inc has an average volume of 242.4K.

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Ra Medical Systems, Inc. designs, develops, and commercializes 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.