Zacks Investment Research upgraded shares of E-Qure Corp (EQUR) from N/A to OUTPERFORM on January 30, 2015, with a target price of $3.50.
EQUR has developed an effective, low cost, easy-to-use device for chronic wound management, which addresses a market worth about $6 billion annually. Results from clinical trials have been very encouraging. Recruitment of patients for a study which is expected to support an FDA filing is underway. We think FDA approval could happen before end of 2016 and product launch in the U.S. could happen towards mid-2017. We think EQUR has a compelling story and believe valuation might increase as certain risks abate. Our target price is $3.50/ share. We are initiating coverage with an Outperform rating.
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