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Analyst Says Cutera's Recurring Revenue Model Tempered By Economic Overhang

  • William Blair has initiated coverage on Cutera Inc (NASDAQ: CUTR) with a Market Perform rating.

  • The analyst writes that in a $13.9 billion aesthetics industry expected to grow at an 11% five-year compound annual rate, Cutera should take share with its redefined strategy centered on innovation and growing recurring revenue.

  • Cutera's new AviClear device should drive over 50% of company growth in the next two years and represent a potential platform product for the company.

  • Related: Macro Factors Take a Toll on Cutera Earnings, Analyst Slashes Price Target by 61%.

  • The device is in the early innings of launch in an acne industry where isotretinoin has maintained a substantial market share.

  • While questions remain (the product was approved less than one year ago), William Blair's survey of dermatologists points to a large opportunity in the $3 billion domestic acne market.

  • Respondents use lasers to treat 6% of acne patients but believe that 27% of patients would be candidates for a clinically proven device.

  • Price Action: CUTR shares are up 2.96% at $34.79 on the last check Tuesday.

Latest Ratings for CUTR

Date

Firm

Action

From

To

Nov 2021

Maxim Group

Upgrades

Hold

Buy

Jun 2021

Cantor Fitzgerald

Initiates Coverage On

Overweight

Nov 2020

Piper Sandler

Maintains

Overweight

View More Analyst Ratings for CUTR

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This article Analyst Says Cutera's Recurring Revenue Model Tempered By Economic Overhang originally appeared on Benzinga.com

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