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Redeye initiates coverage of PMD Device Solutions

Redeye assigns a base-case valuation of SEK 18 per share

Redeye initiates coverage of PMDS today with a base-case share price target of 18SEK, with a bearish and bullish estimation of 5SEK and 45SEK respectively.

Coverge can be found here with the opportunity for live Q&A:

Redeye analyst Johan Unnerus introduces the coverage with the following note:
“Redeye initiates coverage of PMD Device Solutions, an Ireland-based company listed on the NASDAQ First North Growth Market following a reverse acquisition by Promore Pharma AB in December 2023. Its product “RespiraSense” was developed between 2011 and 2021, securing European approval in 2015 and US FDA approval in 2022. We expect strong growth in the upcoming 3-year period. The main catalysts for the stock are an extended English launch, higher virtual ward (hubs) contribution, and early 2025 contributions from Germany and the US.”