Christian Glennie, an analyst from Stifel Nicolaus, maintained the Buy rating on Polarean Imaging (PLLWF – Research Report). The associated price target remains the same with p43.00.
Christian Glennie has given his Buy rating due to a combination of factors that indicate a positive trajectory for Polarean Imaging. Among the key reasons for his optimistic outlook is the recent acquisition of a second de novo order for Polarean’s innovative Xenon MRI System by the University of Alabama at Birmingham (UAB) Hospital. This development not only signifies an expanding customer base, as UAB Hospital did not previously have a research unit but also showcases the broadening interest in and investment in Polarean’s technology. The expectation that the new system will support various applications, including clinical imaging, NIH-funded research, and pharmaceutical trials, further underpins the potential for growth and increased revenue streams.
Furthermore, Polarean Imaging’s sales and confirmed orders have set the company on a path to achieve, if not exceed, its revenue target for 2024, which aligns with Glennie’s projections. The company’s sales forecast, bolstered by additional anticipated orders, is expected to surpass the estimation, thereby reinforcing the Buy rating. Moreover, the growing clinical unit base and the recent order from Cincinnati Children’s Hospital Medical Center contribute to the positive outlook. Glennie sees this as evidence of mounting commercial interest in Polarean’s Xenoview technology as a significant innovation in lung function imaging. He suggests that the company’s ability to meet commercial targets for the upcoming years, contingent upon successful fundraising efforts, could lead to a substantial revaluation of the stock from its current levels.
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Polarean Imaging (PLLWF) Company Description:
Polarean Imaging PLC designs and manufactures equipment for the production of hyperpolarized xenon or helium gas. Its only operating segment being the development and commercialization of gas polariser devices and ancillary instruments. Geographically, it derives a majority of revenue from the United States of America and also has a presence in Canada, Germany, and the United Kingdom. The company generates revenue from products and services such as Polarisers, Parts and Upgrades, Service and Grants. Its product portfolio includes 9820 129Xe Hyperpolarizer, 9800 129Xe Hyperpolarizer, Polarean 3777 129Xe Hyperpolarizer Upgrade Module, Polarean 2881 Polarization Measurement Station and others.
