Maxim Group analyst Anthony Vendetti reiterated a Buy rating on Daxor (DXR – Research Report) yesterday and set a price target of $22.00.
Anthony Vendetti has given his Buy rating due to a combination of factors that highlight Daxor’s promising growth trajectory and strategic positioning. The company reported a significant year-over-year increase in operating revenue and kit sales, indicating strong market adoption of its BVA-100 system. Additionally, Daxor’s decision to focus on a single 510(k) application is expected to streamline the regulatory process, potentially accelerating the approval of its next-generation device.
Moreover, Daxor’s transition towards being classified as an operating company is anticipated to enhance financial transparency and attract a wider range of investors. The company’s efforts to achieve cash flow breakeven early in 2025, along with securing non-dilutive funding such as Department of Defense grants, further bolster its financial stability. These strategic moves, coupled with the anticipated launch of the next-gen BVA device, underscore the company’s potential for sustained growth, justifying the Buy rating.