- Needham analyst expects the U.S. ICL market of more than $2.4 billion, despite some investors considering the market to be niche, with STAAR Surgical Company (NASDAQ:STAA) becoming a major player in this category over time.
- Assuming a prevalence of around 4%, the analyst estimates 13.3 million high myopes in the U.S. With procedural pricing (to the consumer) up to $6K per eye, Needham believes the procedure is positioned for affluent consumers.
- With STAAR’s EVO lenses pricing at $950 in the U.S., Needham estimates a total addressable market of $2.4 billion, with labeling including patients up to -3.0 diopters that could upside the estimates.
- The analyst also writes that although LASIK is the leading refractive error correction procedure, it is much less effective, starting from -6 to -10 diopters.
- Given EVO’s enhancements relative to the prior-gen lens, increasing consumer awareness, and broader surgeon adoption, the ICL could help expand the market to include the under-served high myopia segment.
- Given STAA’s revenue growth and margin profile, shares have generally traded at a premium to its small/mid-cap growth peer group, leading the analyst to believe the risk/reward remains favorable, thus reiterating the Buy rating.
- Price Action: STAA shares are down 4.52% at $69.27 on the last check Tuesday.
Alithya Partners With Zscaler To Bolster Its Network Protection Offering
Partnership advances Alithya's quest to develop cyber security solutions and expertise across all business segments
MONTREAL, Dec. 14, 2022 /CNW Telbec/ - Alithya Group inc. (TSX:ALYA)
