What To Update When You Move

Vandana Singh , Benzinga Staff Author

March 04, 2022 11:42am 250 Comments

Analysts Move To Sidelines On Vicarious Surgical After Regulatory Update

Piper Sandlerhas downgradedVicarious Surgical Inc (NASDAQ: RBOT) to Neutral from Overweight with a toll target of $7, down from $16, beneath expected Q4 results.
A majority of the earnings call focused on the Company'south regulatory update. Vicarious announced its plans to pursue a De Novo FDA pathway, including a pre-marketplace study, for its starting time indication, ventral hernia, notes annotator Adam Maeder.
The Company had previously anticipated using a 510(thou) submission without clinical data, so the update will likely crusade a roughly ix-12 month regulatory delay.
Maeder writes that the regulatory delay and respective revenue pushout, combined with a "healthy pace" of greenbacks-burn expected in subsequent years, moves him to the sidelines.
Canaccord too lowered the price target on Vicarious Surgical to $xiii from $fifteen, with a Purchase rating unchanged.
Annotator Kyle Rose said he acknowledges the Company is still at least three years from the U.S. market.
Merely, the annotator believes Vicarious offers investors a compelling opportunity in the surgical robotics market.
The Company reported a Q4 EPS loss of $(0.15) wider than $(0.04) a year ago, missing the consensus of $(0.ten).
It held greenbacks & greenbacks equivalents of $173.5 million at the finish of 2021.
Price Action: RBOT shares are down 14.8% at $5.01 during the market session on the last cheque Friday.

Appointment	House	Activity	From	To
Mar 2022	Piper Sandler	Downgrades	Overweight	Neutral
Jan 2022	Credit Suisse	Initiates Coverage On		Outperform
December 2021	Cowen & Co.	Initiates Coverage On		Outperform