EBR Systems, Inc.

Recommendation: Hold | Sector: Healthcare

EBR Systems, Inc. develops implantable systems for wireless tissue stimulation. The company offers WiSE cardiac resynchronization therapy system that uses a proprietary wireless technology to deliver pacing stimulation directly to the inside of the left ventricle of the heart. Its products are used to eliminate lead complications, such as placement difficulty, unintended nerve stimulation, dislodgement, extraction, and repositioning. The company was incorporated in 2003 and is based in Sunnyvale, California.

Fundamental

Although the WiSE system offers a novel method of administering CRT, there are currently no long-term safety statistics available for this apparatus. Only short-term adverse events, procedural difficulties, and 6-month follow-up outcomes are included in the data that is currently available.  As post-procedural monitoring studies are finished, the long-term safety and efficacy profile of the WiSE device will be made public in the coming years. The WiSE device may not be used as much in clinical practice due to high procedural complications, associations with longer-term adverse events, and unfavorable morbidity and mortality data.

Technical Analysis

Source: Trading view

As the chart shows that the stock has been trading in an upwards moving channel and making higher top and higher bottom formation which is a bullish pattern. Indicators along with the pattern are supporting prices to face some more buying momentum in the coming months and buy on dips should be followed in weeks to come. StockBinge recommends a “Hold” at the closing price of $0.940 (as of 30th April 2024) with stop loss of $0.825 and Target of $1.30 for few months.

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