The MedTech sector is often overlooked but is just as innovative as many of the top tech names. Two massive multi-billion-dollar markets for its regenerative therapies position BioStem Technologies Inc. (OTC: BSEM) as one of the top medtech stocks to watch. Why would Zacks SCR have a $24.25 price target? The price target increase came shortly after BSEM released its 2Q 2024 earnings results, which vastly exceeded estimates as revenue growth accelerated, and the company posted profits that exceeded even Zack's projections. Q2 quarterly details include: Revenues of $74.5 million represented a nearly 74-fold increase over the year-ago period. A transformative second-quarter revenue, contributing to a record total of $116.4 million in revenue for the first half of 2024. What did Zack's have to say about the financial results? "Investors are increasingly understanding our positive view of BSEM as the stock has experienced a rapid rise over the past year, but we believe the stock is still undervalued." Who is BSEM and why are they standing out to Zack's this way? BioStem Technologies (OTC: BSEM) is a leading innovator focused on harnessing the natural properties of perinatal tissue in the development, manufacture, and commercialization of allografts for regenerative therapies. The Company is focused on manufacturing products that change lives, leveraging its proprietary BioREtain® processing method. BioREtain® has been developed by applying the latest research in regenerative medicine, focused on maintaining growth factors and preserving tissue structure. Both the diabetes wound care market and surgical recovery wound care market are growing at a tremendous rate and offer BSEM a big opportunity, especially because diabetes and issues from diabetes are increasing worldwide. 2023 was a pivotal year for BSEM and it looks like 2024 may be another big year. Additionally on its earnings call, BSEM spoke about the uplisting of its stock to the NASDAQ stock exchange! This kind of a catalyst could be monumental for the company's growth! Learn more about BSEM and its products and why this could be the top biotech stock to be watching!
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Tuesday, October 8, 2024
This little-known biotech stock may capture big attention with plans to uplist to the NASDAQ!
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