Brokerage Canaccord says NCCN guidelines are a positive milestone for Australia's ImpediMed
02/04/2023 23:29
** Brokerage Canaccord Genuity says new National
Comprehensive Cancer Network (NCCN) guidelines will help
Australia's ImpediMed Ltd IPD.AX get opportunity to expand
into other cancer types
** Brokerage increases price target for co to A$0.18 per
share from A$0.14 before, maintains "buy" rating
** On March 24th NCCN revised its survivorship guidelines to
reflect BIS (bioimpedance spectroscopy) as the only objective
measurement tool for lymphedema in cancer patients
** ImpediMed in a release said that co has the only
FDA-cleared BIS technology for the assessment of lymphoedema
** Canaccord says the new guidelines are a positive and
long-awaited milestone for co
** Brokerage sees longer-term pricing improvement for co as
IPD anticipates to increase prices for its new installed base
units of the BIS technology ,but notes this could take some time
** Three of three analysts rate the stock "buy" or higher;
their median PT is A$0.16 – Refinitiv data
** Stock has risen 32.9% this year, as of last close
(Reporting by Nausheen Thusoo in Bengaluru)
((Nausheen.Thusoo@thomsonreuters.com;))