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On Friday, Ascendiant Capital’s analysts revised their price target on Aclarion , Inc. (NASDAQ:ACON) shares, significantly reducing it to $20.00 from the previous target of $11,759.00. Despite the dramatic adjustment, the firm maintains a Buy rating on the stock. According to InvestingPro data, the stock is currently trading near its 52-week low of $6.20, with a market capitalization of just $3.84 million.
The revision comes as the analyst recalibrates the 12-month target price to reflect recent stock splits and dilution. The new price target is set at a level that indicates a potential upside of 2.9 times the current share price. Ascendiant Capital’s analysis is based on the net present value (NPV) estimate of the whole company, which remains unchanged.
Aclarion’s financial position appears to be relatively stable, with the analyst highlighting that the company has over $24.00 in net cash per share. Additionally, the firm’s cash burn rate is described as modest, at approximately $1.5 million per quarter, which suggests limited downside risk for investors.
The optimism for Aclarion’s stock also stems from the company’s opportunity to accelerate its market penetration. Aclarion is positioned to capitalize on a "9-figure market opportunity" with both providers and payers, which could lead to significant upside potential.
In summary, while the price target for Aclarion has been significantly lowered, Ascendiant Capital’s outlook for the company remains positive, with expectations of substantial growth and a strong cash position that could mitigate downside risks.
In other recent news, Aclarion, Inc. has announced a 1-for-27 reverse stock split of its common stock, effective before the market opens on March 28, 2025. This move aims to elevate the per-share price and help maintain compliance with Nasdaq’s Minimum Bid Price Rule. Following the reverse stock split, Aclarion expects a reduction in its issued and outstanding common shares from approximately 15.72 million to around 582,000. In financial updates, Aclarion reported a cash balance of approximately $15.2 million, exceeding Nasdaq’s minimum stockholders’ equity requirement of $2.5 million, following the issuance of around 12.7 million common shares related to Series B warrants. The company also revealed plans to expand its Nociscan centers in New York and New Jersey, in partnership with RadNet (NASDAQ:RDNT), to meet growing demand for its noninvasive diagnostic tool. Additionally, Aclarion’s shareholders approved key proposals, including the issuance of additional shares and an amendment to increase authorized shares from 200 million to 300 million. These developments demonstrate Aclarion’s strategic efforts to comply with trading regulations and expand its diagnostic services.
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