Augmedix price target raised to $5 from $4 at B. Riley

B. Riley analyst Neil Chatterji raised the firm’s price target on Augmedix (AUGX) to $5 from $4 and keeps a Buy rating on the shares. The company announced a "significant" collaboration with and strategic investment from HCA Healthcare (HCA) to accelerate the development of artificial intelligence-powered ambient documentation products for complex acute care settings, the analyst tells investors in a research note. Along with the partnership, Augmedix raised $12M in equity from HCA and Redmile Group, which management believes will add enough capital to reach cash flow breakeven and sustainability exiting 2024, the firm points out.