Buy Rating for PROCEPT BioRobotics: Promising Growth in Cancer Treatment Market and BPH Advancements

William Blair analyst Brandon Vazquez has maintained their bullish stance on PRCT stock, giving a Buy rating on April 25.

Brandon Vazquez has given his Buy rating due to a combination of factors that highlight the potential growth and innovation within PROCEPT BioRobotics. One significant factor is the promising early results from the technique used for prostate cancer treatment, which differs from the method applied in benign prostatic hyperplasia (BPH). This new technique ablates a larger portion of the prostate, potentially addressing concerns about cancer treatment efficacy and offering a substantial opportunity in the cancer treatment market.
Additionally, the company’s valuation appears to not fully reflect the potential benefits from expanding into the cancer treatment market, which Vazquez believes could materialize in the next few years. Meanwhile, PROCEPT BioRobotics continues to advance in the BPH market, with a new system launch and positive clinical trial results supporting its growth trajectory. These elements combined suggest a strong potential for the company to meet or exceed current market expectations, justifying the Buy rating.

According to TipRanks, Vazquez is a 2-star analyst with an average return of -2.8% and a 28.57% success rate. Vazquez covers the Healthcare sector, focusing on stocks such as PROCEPT BioRobotics, Neogen, and Henry Schein.

In another report released on April 25, TD Cowen also reiterated a Buy rating on the stock with a $85.00 price target.