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On Monday, H.C. Wainwright reaffirmed a positive stance on Sensus Healthcare (NASDAQ:SRTS), maintaining a Buy rating and a $12.00 price target for the company’s shares. The endorsement follows the publication of a study in the Annals of Plastic Surgery last month, which presented promising results for the treatment of keloids using Sensus Healthcare’s Superficial Radiation Therapy (SRT) in conjunction with surgical excision. With analyst targets ranging from $10 to $14 and the stock currently trading at $4.46, InvestingPro analysis suggests the company is currently undervalued. The company maintains a strong balance sheet with more cash than debt and has demonstrated profitability over the last twelve months.
The study, conducted at a single site in Taiwan, retrospectively analyzed 12 patients with 16 keloids. According to the data, none of the treated keloids recurred, with most patients being monitored for over six months. This outcome is particularly notable when compared to traditional keloid treatments like corticosteroid injections, cryotherapy, and laser therapy, which often have inconsistent results and high rates of recurrence.
H.C. Wainwright’s analysis suggests that the study’s findings support the clinical utility of the SRTS technology, especially as an adjunct treatment to surgical excision, potentially reducing keloid recurrence and enhancing long-term patient outcomes. The firm’s reiteration of its Buy rating and price target reflects confidence in the company’s prospects, based on the demonstrated efficacy of its SRT-100 product in managing keloid scars.
Sensus Healthcare’s SRT-100 system is designed to provide a non-invasive treatment option for non-melanoma skin cancers and keloids, utilizing superficial radiation therapy that targets only the affected skin layers. The recent study’s results may contribute to an increased adoption of the SRT-100 system as a preferred method for keloid management in clinical settings.
Investors and stakeholders in Sensus Healthcare will likely monitor the impact of these findings on the company’s market position and the broader acceptance of SRT in dermatological and surgical practices. The reaffirmed Buy rating and price target by H.C. Wainwright signal a positive outlook for the company’s growth and therapeutic contributions to keloid treatment.
In other recent news, Sensus Healthcare has reported its financial results for the fourth quarter and the full year of 2024, revealing significant revenue growth. The company achieved a total revenue of $13.1 million for the fourth quarter, marking a year-over-year increase of 4%, and exceeded analyst forecasts of $10.0 million. For the entire year, Sensus Healthcare’s revenue reached $41.8 million, representing a substantial 71% increase from the previous year and surpassing projections of $38.8 million. Despite this revenue growth, the company’s net income for the fourth quarter was $1.5 million, slightly below the expected $1.8 million. H.C. Wainwright analyst Raghuram Selvaraju raised the price target for Sensus Healthcare shares to $12.00, maintaining a Buy rating, following the company’s strong financial performance. Additionally, Sensus Healthcare has announced the successful results of a study using their SRT-100® system for treating keloids, published in the Annals of Plastic Surgery. The study showed no recurrence of keloids in patients over six months after combining surgical excision with Superficial Radiation Therapy. These developments highlight Sensus Healthcare’s ongoing efforts to expand its market presence and enhance its product offerings.
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