Trump meets Zelenskiy, says Putin wants war to end, mulls trilateral talks
Investing.com - H.C. Wainwright lowered its price target on IceCure Medical Ltd. (NASDAQ:ICCM) to $2.00 from $2.50 on Friday, while maintaining a Buy rating on the stock. According to InvestingPro data, the stock currently trades at $0.84, with analysts maintaining an average target of $2.75, suggesting significant upside potential despite recent volatility.
The firm’s decision follows IceCure’s 1H25 financial results, which showed second-quarter revenue of $525,000, representing a 48% year-over-year decline. The company reported a net loss of $3.4 million, or $0.06 per share, for the quarter. InvestingPro analysis indicates the company maintains a moderate debt level with a current ratio of 1.18, though it’s currently burning through cash rapidly.
IceCure attributed part of the revenue shortfall to delayed product shipments worth more than $200,000, which were scheduled for delivery during Q2 but were postponed due to the Israel-Iran conflict in June 2025.
The medical device company has met with the FDA regarding its De Novo marketing authorization request for ProSense for treating early-stage low-risk breast cancer with adjuvant endocrine therapy. The FDA has requested a post-market study, and a final marketing authorization decision is expected before the end of 2025.
H.C. Wainwright noted that while its estimated market value for IceCure increased slightly, projected shares outstanding rose significantly following a recent rights offering, resulting in the adjusted price target. For deeper insights into ICCM’s valuation and growth prospects, including 12+ additional ProTips and comprehensive financial analysis, check out the full research report on InvestingPro.
In other recent news, IceCure Medical reported its first-quarter financial results, revealing a revenue of $725,000, which represents a 2% decline from the previous year. This figure was slightly below the projection of $750,000 from H.C. Wainwright, which maintained a Buy rating on the company with a price target of $2.50. The company also reported a net loss of $3.6 million, or ($0.06) per share, which was narrower than the anticipated loss of $4.4 million. In related developments, Brookline Capital Markets adjusted its price target for IceCure Medical to $2.77, down from $3.53, while maintaining a Buy rating, citing an "uneventful" second quarter. The FDA has requested additional information from IceCure Medical regarding its post-marketing study, a key step for the De Novo marketing authorization of ProSense. Additionally, IceCure Medical has scheduled multiple shareholder meetings, with the Annual and Special General Meeting set for August 20, 2025, and another Special General Meeting on September 1, 2025. The company recently updated its proxy statement for the September meeting to include a website address for remote attendance, with no other changes made to the materials.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.