EBR Systems, Inc.

Recommendation: Sell | 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. EBR Systems, Inc. was incorporated in 2003 and is based in Sunnyvale, California.

Fundamental

With a reduction in left ventricular end-systolic volume (LVESV) of 16.4% (goal ≥ 9.3%) (p=0.003) and escape from Type 1 problems in 80.9% of patients (target ≥ 70%) (p<0.001), primary efficacy and interim safety targets were met.  Based on end-diastolic volume (mean Δ 25.4 ml, p<0.001, 95%CI 22.5-28.4), end-systolic volume (mean Δ 25.1 ml, p<0.001, 95%CI 17.9-32.4 ml), and ejection fraction (mean Δ 5.2%, p<0.001, 95%CI 4.7-5.7%), additional left ventricular measurements confirmed favorable remodelling.

Technical Analysis

Source: Trading view

As the chart shows that the stock has been trading in an upwards moving channel by making higher top and higher bottom formation in the recent past but has now given its upside breakout of the channel which is attracting more upside momentum in the coming weeks. The stock have already gained more than 21% since we have given a buy call in it. Hence StockBinge recommends a “Sell” at the closing price of $1.140 (as of 21st May 2024) with stop from the stock as of now and we will look re-entry opportunity after some correction. 

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