Anthony Vendetti, an analyst from Maxim Group, maintained the Buy rating on SeaStar Medical Holding. The associated price target remains the same with $2.00.
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Anthony Vendetti has given his Buy rating due to a combination of factors that highlight SeaStar Medical Holding’s potential in the medical device market. The independent Data Safety Monitoring Review Board’s recommendation to continue the NEUTRALIZE-AKI trial without any safety concerns and the indication of potential efficacy are significant positives. The expansion of patient enrollment is expected to enhance the statistical significance of the trial outcomes, providing robust clinical support for future PMA submission.
Despite the extended timeline and increased trial costs, Vendetti remains optimistic about the company’s prospects in the adult acute kidney injury market and its ongoing progress in the pediatric segment. The company’s financial position, with recent capital raises and no debt, provides a solid foundation to support its operations through the trial period. Additionally, the attractive valuation, based on a 10-year DCF analysis, supports the $2.00 price target, reflecting the novel technology and significant market opportunities beyond AKI, including other medical conditions with large markets. These factors underpin the Buy rating for SeaStar Medical Holding.
ICU’s price has also changed dramatically for the past six months – from $2.210 to $0.608, which is a -72.49% drop .