StifelBargain basement price this morning. GLTA
09:18 AM EST, 11/25/2022 (MT Newswires) -- Stifel GMP on Friday reiterated its buy rating on the shares of Opsens (OPS.TO) and its C$3.75 price target following meetings with the management of the medical-device company.
"We met with OpSens' CEO, Louis Laflamme and VP of Technology, Sebastien Lalancette today for an update," analyst Justin Keywood writes. "We continue to see a constructive investment case, especially as the share price has retreated, since the announced FDA approval of the SavvyWire. OpSens has doubled its sales team to launch SavvyWire, as evident with higher costs in FQ4 but we anticipate a relatively quick ramp to greater scale. OpSens has currently secured ~10 U.S. Cath Lab accounts that provide TAVR procedures with a goal of 20 by year-end. At 20 Cath Labs, we estimate $10mm in extra sales to be realized in 2023, consistent with our forecasts. This is particularly compelling, given that OpSens is already selling its foundational product, OptoWire in 60 U.S. Cath Labs and highlights pent-up torque with a path to $100mm in sales. We suggest that investors take another look at OPS at only ~$2/share."