Koru Medical initiated with a Buy at Lake Street

Lake Street analyst Frank Takkinen initiated coverage of Medical with a Buy rating and $4 price target. Koru’s Freedom System is “the go-to device provider” for in-home subcutaneous delivery of immunoglobulins, says the firm, which thinks the Q4 FDA clearance of the Hizentra 50 ml prefilled option used with FREEDOM60 will “significantly open the market and enable more adoption.” The firm adds that it thinks the company’s “Vision 2026” strategy focused on diversifying the business will “eventually drive a step-function in recurring revenue” along with gross margin expansion potential.