Regulatory Milestone: HeartSciences has submitted its MyoVista wavECG device for FDA 510(k) clearance, aiming to expedite the regulatory review process, which is expected to enhance the company's competitiveness in the healthcare IT sector.
Technological Innovation: The device not only provides conventional ECG functionality but also supports AI-ECG algorithms, aligning with the latest ASE guidelines for LVDD assessment, which is anticipated to improve clinical decision-making and patient care quality.
Flexible Development Strategy: The company opted to separate the FDA submissions for the device and the AI-ECG software algorithm to simplify the regulatory pathway and accelerate device clearance while preserving flexibility for future AI-ECG deployments, enhancing market adaptability.
Market Expansion Potential: CEO Andrew Simpson noted that progress with the MyoVista Insights platform is occurring in parallel with the device submission, with initial customer deployments expected to be announced soon as commercial discussions with several healthcare institutions advance, further driving revenue growth.
HSCS
$2.47+Infinity%1D
Analyst Views on HSCS
Wall Street analysts forecast HSCS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for HSCS is 10.50 USD with a low forecast of 9.00 USD and a high forecast of 12.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
Wall Street analysts forecast HSCS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for HSCS is 10.50 USD with a low forecast of 9.00 USD and a high forecast of 12.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 2.550
Low
9.00
Averages
10.50
High
12.00
Current: 2.550
Low
9.00
Averages
10.50
High
12.00
Ascendiant Capital
Lucas Ward
Strong Buy
Maintains
$15 → $14
2025-03-18
Reason
Ascendiant Capital
Lucas Ward
Price Target
$15 → $14
2025-03-18
Maintains
Strong Buy
Reason
Maxim Group
Allen Klee
Strong Buy
Reiterates
$12
2024-12-18
Reason
Maxim Group
Allen Klee
Price Target
$12
2024-12-18
Reiterates
Strong Buy
Reason
About HSCS
HeartSciences Inc. is an artificial intelligence (AI)-powered medical technology company focused on transforming ECGs/EKGs to save lives through earlier detection of heart disease. The Company has libraries of artificial intelligence-enhanced electrocardiography (AI-ECG) algorithms and is developing AI-ECG solutions to be made available on either a hardware- agnostic cloud-based platform or its proprietary MyoVista wavECG device, to help identify cardiovascular disease in any care setting worldwide in a manner to suit different care providers. Its first product candidate for FDA clearance, the MyoVista wavECG, or the MyoVista, is a resting 12-lead ECG that is also designed to provide diagnostic information related to cardiac dysfunction, which has traditionally only been available through the use of cardiac imaging. The MyoVista also provides conventional ECG information in the same test. It delivers AI-ECG algorithms using existing ECG devices across a hospital or health system.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
