Here’s Why Wall Street is Bullish on TransMedics Group (TMDX)

TransMedics Group, Inc. (NASDAQ:TMDX) is one of the Best Stocks to Buy for the Next 3 Months According to Hedge Funds. On August 4, TransMedics Group, Inc. (NASDAQ:TMDX) received conditional approval from the US FDA for its Investigational Device Exemption, allowing the company to start its Next-Generation OCS ENHANCE Heart trial.

The trial has two parts, where the first part focuses on supporting prolonged heart perfusion using the OCS Heart System. Whereas the second part aims to prove that OCS Heart perfusion is better than traditional cold storage methods in hearts donated after brain death.

Analysts have been bullish on the stock since the approval. On September 5, Josh Jennings from TD Cowen reiterated a Buy rating on TransMedics Group, Inc. (NASDAQ:TMDX) with a price target of $170. Earlier on September 3, Matthew O’Brien from Piper Sandler had also reiterated a Buy rating on the stock with a price target of $145.

TransMedics Group, Inc. (NASDAQ:TMDX) is a medical technology company that revolutionizes organ transplant therapy for patients with end-stage lung, heart, and liver failure.

While we acknowledge the potential of TMDX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TMDX and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.