IceCure Medical (NASDAQ:ICCM) Price Target Lowered to $1.00 at Maxim Group

IceCure Medical (NASDAQ:ICCM) had its price target decreased by analysts at Maxim Group from $3.00 to $1.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Maxim Group’s target price points to a potential upside of 314.94% from the company’s current price.

Several other equities research analysts have also commented on ICCM. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IceCure Medical in a report on Tuesday, April 21st. Alliance Global Partners started coverage on shares of IceCure Medical in a report on Monday, May 4th. They issued a “buy” rating on the stock. Finally, Wall Street Zen raised shares of IceCure Medical from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $2.09.

IceCure Medical Stock Up 1.7%

Shares of ICCM traded up $0.00 during trading hours on Thursday, reaching $0.24. 402,521 shares of the company traded hands, compared to its average volume of 454,657. The stock has a market capitalization of $19.56 million, a P/E ratio of -1.00 and a beta of 0.47. IceCure Medical has a 12-month low of $0.22 and a 12-month high of $1.40. The business has a fifty day moving average price of $0.42 and a 200-day moving average price of $0.58.

IceCure Medical (NASDAQ:ICCM) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The company had revenue of $0.91 million for the quarter, compared to analysts’ expectations of $1.34 million. IceCure Medical had a negative net margin of 441.60% and a negative return on equity of 222.27%. As a group, research analysts predict that IceCure Medical will post -0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Virtu Financial LLC acquired a new position in shares of IceCure Medical in the fourth quarter worth about $39,000. Concurrent Investment Advisors LLC acquired a new position in shares of IceCure Medical during the 4th quarter worth about $48,000. Finally, Jane Street Group LLC acquired a new position in shares of IceCure Medical during the 4th quarter worth about $67,000. Institutional investors and hedge funds own 0.62% of the company’s stock.

IceCure Medical Company Profile

IceCure Medical Ltd. (NASDAQ: ICCM) is a clinical-stage medical device company specializing in the development and commercialization of proprietary cryoablation systems for the treatment of tumors and other pathological tissues. The company’s core technology employs a unique liquid-nitrogen-based platform to deliver rapid cooling through fine-gauge cryoprobes, enabling precise and minimally invasive tissue ablation under imaging guidance. IceCure’s lead product, ProSense, is designed to offer a single-probe approach that can be deployed in an outpatient setting, reducing procedure time and patient recovery periods.

Originally founded in Israel, IceCure Medical obtained its first CE mark for the treatment of benign breast tumors and fibroadenomas in 2017.