Brokerages Set IceCure Medical Ltd. (NASDAQ:ICCM) PT at $62.70

Shares of IceCure Medical Ltd. (NASDAQ:ICCM) have been given a consensus rating of “Hold” by the five brokerages that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $52.50.

Several analysts recently commented on the company. Zacks Research lowered IceCure Medical from a “hold” rating to a “strong sell” rating in a research note on Friday, August 14th. Wall Street Zen raised IceCure Medical to a “sell” rating in a report on Sunday, July 12th. Weiss Ratings restated a “sell (e+)” rating on shares of IceCure Medical in a research note on Friday, July 17th. Alliance Global Partners started coverage on shares of IceCure Medical in a research note on Monday, May 4th. They issued a “buy” rating on the stock. Finally, Maxim Group dropped their target price on shares of IceCure Medical from $90.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, May 14th.

Institutional Trading of IceCure Medical

Large investors have recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC bought a new position in shares of IceCure Medical in the fourth quarter valued at approximately $48,000. Jane Street Group LLC bought a new stake in IceCure Medical during the 4th quarter worth approximately $67,000. Finally, Virtu Financial LLC bought a new stake in IceCure Medical during the 4th quarter worth approximately $39,000. 0.62% of the stock is owned by institutional investors.

IceCure Medical Trading Down 7.8%

NASDAQ ICCM opened at $2.60 on Wednesday. The stock’s 50 day moving average is $3.91 and its two-hundred day moving average is $9.49. The company has a market capitalization of $8.91 million, a price-to-earnings ratio of -0.31 and a beta of 0.47. IceCure Medical has a 1-year low of $2.12 and a 1-year high of $42.00.

IceCure Medical (NASDAQ:ICCM) last issued its earnings results on Tuesday, June 30th. The company reported ($1.64) earnings per share (EPS) for the quarter. The company had revenue of $0.91 million during the quarter. IceCure Medical had a negative return on equity of 174.26% and a negative net margin of 427.67%. On average, analysts predict that IceCure Medical will post -4.61 earnings per share 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.