PAVmed Inc (PAVM) Receives a Buy from Maxim Group

Maxim Group analyst Anthony Vendetti maintained a Buy rating on PAVmed Inc (PAVMResearch Report) yesterday and set a price target of $3. The company’s shares closed last Monday at $0.99.

Vendetti said:

“the company announced it successfully completed the clinical safety study for CarpX 510(k) resubmission. All 20 patients met the protocol’s primary effectiveness endpoint with no adverse events. EsoCheck hit a key milestone, receiving FDA 510(k) clearance; we expect commercialization before year end. PAVmed filed its 10-Q on with both operating expenses and GAAP loss per share inline with our expectations. We are introducing quarterly estimates for 2020.”

According to TipRanks.com, Vendetti is a 4-star analyst with an average return of 3.8% and a 45.6% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Ellex Medical Lasers Limited, Restoration Robotics Inc, and Ra Medical Systems Inc.

Currently, the analyst consensus on PAVmed Inc is a Moderate Buy with an average price target of $3.

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Based on PAVmed Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $3.59 million. In comparison, last year the company had a GAAP net loss of $5.07 million.

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PAVmed, Inc. is a medical device company, which develops and commercializes a pipeline of medical products. Its product portfolio includes DisappEAR, PORTIO, Caldus, Carpx, NextCath, and NextFlo. The company was founded on June 26, 2014 and is headquartered in New York, NY.