Microbot Medical is a buy, Roth says

Roth Capital Markets initiated coverage of Microbot Medical (Microbot Medical Stock Quote, Chart, News, Analysts, Financials NASDAQ:MBOT) with a “Buy” rating and a US$5.50 price target on Dec. 3, citing the commercial rollout of the company’s LIBERTY endovascular robotic system following FDA clearance in September.

Hingham, Mass.–based Microbot develops disposable robotic systems for minimally invasive vascular procedures, with R&D operations in Israel.

Analyst Kyle Bauser said LIBERTY is already in limited commercial use at select U.S. hospitals and is slated for full launch at the Society of Interventional Radiology meeting in April 2026. He said the system’s disposable design, ease of integration into current workflows, and ability to navigate complex vascular anatomy while reducing clinician fatigue and radiation exposure should support early adoption.

Management estimates an annual U.S. addressable market of six million endovascular procedures across 15,000 physicians and 8,000 facilities, with an initial focus on 2.3 million peripheral vascular procedures. These include embolization, revascularization and hemorrhage-control interventions; categories with existing outpatient reimbursement structures that Bauser believes can absorb LIBERTY’s per-procedure cost.

Bauser noted that the fully disposable platform avoids capital expenditure, maintenance contracts and infrastructure modifications typical of robotic systems, lowering adoption barriers. The system provides remote operation of catheters and guidewires, which can reduce radiation exposure, improve ergonomics and support smaller hospitals in managing complex cases.

Bauser forecast sales of US$39-million in fiscal 2029. His US$5.50 target is based on a 12× EV/Sales multiple (in line with FY25 peers) applied to FY29 revenue, discounted three years at 15%. Microbot has roughly US$80-million in cash, no debt and an enterprise value of about US$83-million.

He added that LIBERTY could be an attractive acquisition candidate for large medtech companies already supplying disposable products to catheter labs, though commercialization delays, reimbursement risk and slower expansion into cardiac and neurovascular applications remain key uncertainties.

Bauser said Microbot should post Adjusted EBITDA of –US$15.3-million on no revenue in fiscal 2025, improving to –US$23.9-million on US$2.9-million of revenue in fiscal 2026.

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