Procept BioRobotics initiated with an Overweight at Piper Sandler

Piper Sandler analyst Matt O’Brien initiated coverage of Procept BioRobotics with an Overweight rating and $42 price target. The company has developed and commercialized its AquaBeam robotic system that “addresses many of the shortcomings” of alternative surgical interventions in benign prostatic hyperplasia through the use of aquablation therapy, the analyst tells investors in a research note. The firm expects Procept will continue to exceed expectations on the top-line.