Profound Medical (OTCQX:PRFMF; TSXV:PRN) has completed patient enrollment in the TACT pivotal study designed to further evaluate safety and efficacy of its TULSA-PRO medical device to ablate prostate tissue in patients with localized, organ-confined prostate cancer.Read More
RBC Capital Markets initiated coverage of TSO3 (TSX:TOS) with an “outperform, speculative risk” rating and $4.25 (Canadian) price target. The stock closed at $3.09 on May 2.Read More
Closely-held Roth Capital Partners named Eric Cheng as managing director, head of healthcare investment banking.Read More
Duff & Phelps has added managing director Phil Smith and director Adam Stormoen to its healthcare M&A advisory practice in Minneapolis.Read More
Echelon Wealth Partners initiated coverage of Profound Medical (OTCQX:PRFMF; TSXV:PRN) with a “buy” rating and one-year price target of $4. The stock closed at 78 cents on March 14.Read More
John Calcagnini has joined Stout Risius Ross as managing director in the investment banking group’s healthcare industry practice.Read More
Kenneth Galbraith, an accomplished life sciences industry veteran, has been appointed a director of Profound Medical (TSX-V:PRN).Read More
Roth Capital Partners has appointed Michael Margolis as head of healthcare investment banking. Mr. Margolis has been a managing director at the firm since 2010.Read More
Stereotaxis (NASDAQ:STXS) has signed definitive agreements for multiple transactions that significantly strengthen its financial position and help accelerate and enhance its strategic market growth initiatives.
The transactions include an equity financing of $24-million, satisfaction in full of outstanding debt to Healthcare Royalty Partners for a payment of $13-million, and the addition to the board of three new directors with significant operational and financial experience in the medical device industry.Read More
Scotiabank initiated coverage of Novadaq Technologies (NASDAQ:NVDQ; TSX:NDQ) with a “sector outperform” rating and a one-year price target of $18. The stock closed at $11.43 on Tuesday.
Analyst Alan Ridgeway writes that at a multiple of eight times estimated 2017 sales, “Novadaq would trade at a premium to peers, which is justified, in our opinion, because we believe it will break even in roughly 12 months and has the potential to grow more than 30% annually through 2020.”Read More
Stifel has raised its price target for Cynosure (NASDAQ:CYNO) to $50 from $44, reflecting revised estimates and an increased sales multiple due to the company’s higher growth rate. The stock closed at $42 on Monday.
Cynosure is a medical device company focused on designing, manufacturing, and marketing energy-based systems primarily for minimally invasive and non-invasive aesthetic procedures.Read More