Piper Sandler Issues Pessimistic Forecast for Edap Tms (NASDAQ:EDAP) Stock Price

Edap Tms (NASDAQ:EDAP) had its target price decreased by stock analysts at Piper Sandler from $5.00 to $4.50 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the medical equipment provider’s stock. Piper Sandler’s price target points to a potential upside of 116.24% from the stock’s current price.

EDAP has been the subject of a number of other reports. StockNews.com started coverage on shares of Edap Tms in a research report on Friday. They set a “hold” rating for the company. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Edap Tms in a research report on Friday.

Edap Tms Price Performance

Shares of NASDAQ:EDAP traded down $0.14 on Friday, hitting $2.08. The company had a trading volume of 79,730 shares, compared to its average volume of 86,303. The business has a 50 day moving average of $2.42 and a 200 day moving average of $2.51. Edap Tms has a 52-week low of $1.96 and a 52-week high of $8.50. The company has a market cap of $77.21 million, a PE ratio of -3.28 and a beta of 0.37. The company has a current ratio of 2.18, a quick ratio of 1.46 and a debt-to-equity ratio of 0.08.

Edap Tms (NASDAQ:EDAP) last released its earnings results on Thursday, March 27th. The medical equipment provider reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.06. The firm had revenue of $22.69 million during the quarter, compared to analyst estimates of $20.83 million. Edap Tms had a negative return on equity of 44.21% and a negative net margin of 34.92%. As a group, equities analysts anticipate that Edap Tms will post -0.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its position in shares of Edap Tms by 23.7% during the third quarter. BNP Paribas Financial Markets now owns 23,000 shares of the medical equipment provider’s stock worth $59,000 after purchasing an additional 4,400 shares during the last quarter. Orion Capital Management LLC lifted its stake in Edap Tms by 10.4% during the third quarter. Orion Capital Management LLC now owns 69,800 shares of the medical equipment provider’s stock worth $178,000 after purchasing an additional 6,600 shares during the last quarter. Illumine Investment Management LLC bought a new position in Edap Tms during the fourth quarter worth $50,000. Rock Springs Capital Management LP increased its stake in Edap Tms by 1.5% during the fourth quarter. Rock Springs Capital Management LP now owns 1,591,800 shares of the medical equipment provider’s stock valued at $3,518,000 after purchasing an additional 23,800 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Edap Tms by 218.5% during the fourth quarter. Millennium Management LLC now owns 48,915 shares of the medical equipment provider’s stock worth $108,000 after purchasing an additional 33,558 shares during the period. 62.74% of the stock is currently owned by institutional investors.

About Edap Tms

EDAP TMS SA is a holding company, which, through its subsidiary, engages in the development, production, and marketing of minimally invasive medical devices for urological diseases. It operates through the High Intensity Focused Ultrasound (HIFU) and Urology Devices and Services (UDS) segments. The HIFU segment develops, manufactures, and markets devices for the minimally invasive ablation of certain types of localized tumors using HIFU technology.