Zack’s increases its price target on this stock after a blow out quarter.
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This stock is making waves in the med tech space. The company just announced another stellar quarter and that it will uplist to the NASDAQ! As a leading innovator focused on harnessing the natural properties of perinatal tissue in the development, manufacture, and commercialization of allografts for regenerative therapies. The Company is focused on manufacturing products that change lives, leveraging its proprietary BioREtain® processing method. BioREtain® has been developed by applying the latest research in regenerative medicine, focused on maintaining growth factors and preserving tissue structure. Not that long ago Zack’s Small Cap Research increased its price target to $23.25, recognizing the company’s value after it reported Q1 financial results. Zack’s Small Cap Research has increased their price target AGAIN after the company’s Q2 report. Highlights from the report include revenues of $74.5 million, which represented a nearly 74-fold increase over the year-ago period. This was a transformative second-quarter revenue, contributing to a record total of $116.4 million in revenue for the first half of 2024! “These results are further evidence, in our view, that the medical community is increasingly realizing the benefits and superiority of the BioStem products and increasingly realizing the benefits patients can get from having access to those products. Our belief is that now that BioStem has a solid foothold in that tough to break into community, the acceptance and use of the company’s products will continue to accelerate as we’ve begun to see over the past couple of quarters,” said Zacks. Not that long ago BSEM received IRB approval to proceed with a clinical study evaluating AW2 in patients with diabetic foot ulcers. Following the completion of this study, BioStem will aim to commercially advance AW2 with expanded Payer Insurance Coverage within the diabetic foot ulcer market. Diabetic foot ulcers are among the most prevalent and severe complications affecting the lower extremities in individuals with diabetes mellitus. These ulcers pose a significant economic strain on healthcare systems, with annual treatment costs estimated to range from $9 to $13 billion in the United States alone. Jason Matuszewski, CEO of BioStem, commented: ”The diabetic foot ulcer patient population stands to benefit significantly from our advanced wound care technologies. Through this innovative trial, we aim to demonstrate the efficacy of our unique AW2 allograft, manufactured with our patented BioREtain™ technology.” Discover more about BSEM’s products and why Zack’s now has a $24.25 price targert on the stock! Huge Alerts |
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