The Volpara Health Technologies (ASX:VHT) share price price is steady in Monday morning trade after the breast cancer screening software company told the ASX it thought the rise in its share price was as a result of a buy alert from an analyst on the website Livewiremarkets.com.
On Thursday last week the Volpara share price soared 15 per cent, followed by another jump of 11 per cent in Volpara shares on Friday.
Late last week, an article on Livewire named Volpara as one of Morgans’ “nine high conviction stocks for October.”
Andrew Tang from Morgans named the key reasons to buy Volpara shares as…
– Volpara’s SaaS model is linked to a growing medical need, which has recently seen 36 US states mandate that women are told of breast density.
– Volpara’s market share of breast screening in the US is currently 3.7 per cent with a pathway to grow to 9 per cent in FY19.
– A business model leveraged to growing and recurring revenue (FY19 guidance of NZ$9.0m) with the ability to pass on improved pricing over time (average US$3 per screen).
The Volpara share price has jumped 33 per cent higher in the past few days, and is up over 80 per cent in the past 12 months.