IceCure Medical Ltd. (NASDAQ:ICCM) Receives $62.70 Consensus Target Price from Brokerages

IceCure Medical Ltd. (NASDAQ:ICCM) has received an average rating of “Hold” from the five analysts that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $62.70.

Several research analysts recently issued reports on ICCM shares. Wall Street Zen upgraded shares of IceCure Medical to a “sell” rating in a research note on Sunday, July 12th. Maxim Group dropped their price objective on shares of IceCure Medical from $90.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Alliance Global Partners assumed coverage on shares of IceCure Medical in a report on Monday, May 4th. They issued a “buy” rating on the stock. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of IceCure Medical in a research note on Friday, July 17th.

Institutional Trading of IceCure Medical

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC bought a new position in IceCure Medical during the 4th quarter valued at approximately $67,000. Concurrent Investment Advisors LLC bought a new stake in IceCure Medical in the fourth quarter worth $48,000. Finally, Virtu Financial LLC bought a new stake in IceCure Medical in the fourth quarter worth $39,000. Hedge funds and other institutional investors own 0.62% of the company’s stock.

IceCure Medical Trading Down 4.6%

ICCM opened at $3.08 on Friday. The stock has a fifty day simple moving average of $4.88 and a two-hundred day simple moving average of $11.58. The company has a market cap of $10.56 million, a price-to-earnings ratio of -0.43 and a beta of 0.43. IceCure Medical has a 12-month low of $2.12 and a 12-month high of $42.00.

IceCure Medical (NASDAQ:ICCM) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). IceCure Medical had a negative net margin of 441.60% and a negative return on equity of 211.73%. The firm had revenue of $0.91 million for the quarter, compared to analysts’ expectations of $1.34 million. On average, analysts predict that IceCure Medical will post -3.51 EPS for the current year.

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.