EBR SYSTEMS INC (EBR)
Share Price Analysis and Chart

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30/07/2024

1

Speculative Buy

$1.57

51.69%

Cash burn of -US$10.3m within EBR Systems' 2Q cashflow report aligned with Morgans forecast. The number largely reflected higher administration costs, research and development (R&D) and interest expense, partially offset by lower manufacturing expenditures.

The company has enough capital to get to potential US approval for the WiSE Cardiac Resynchronization Therapy (CRT) System and beyond, suggest the analysts.

No changes are made to the broker's forecasts. The Speculative Buy rating and $1.57 target are retained.

FORECAST
Morgans forecasts a full year FY24 dividend of 0.00 cents and EPS of minus -19.77 cents.
Morgans forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -13.69 cents.

19/08/2024

1

Overweight

$1.50

44.93%

EBR Systems SOLVE-CRT study data published recently confirms the data on which the company’s imminent Pre-Market Approval (PMA) filing is based. It’s a major achievement for the company and its collaborators, Wilsons suggests.

The company has kept its projects on track and managed cash well, the broker believes. Peer review validation ought to be celebrated because it lends confidence to the underlying PMA data.

When Wilsons initiated on EBR Systems back in Dec-21 it saw potential for $6/share valuation, un-risked and fully diluted.That remains the view. For now, target rises to $1.50 from $1.32, Overweight retained.

FORECAST
Wilsons forecasts a full year FY24 dividend of 0.00 cents and EPS of minus -15.97 cents.
Wilsons forecasts a full year FY25 dividend of 0.00 cents and EPS of minus -14.90 cents.