Paradigm Capital has named Perimeter Medical Imaging AI (TSXV:PINK; OTCQX:PYNKF) as a new Top Pick with a “speculative buy” rating and C$0.95 price target. The stock closed at C$0.275 on July 3.
Commenting on the FDA’s March 2026 PMA approval of Perimeter’s ‘Claire’ OCT imaging device for intraoperative breast cancer margin assessment, analyst Scott McAuley, PhD, wrote that it “sets Perimeter up to accelerate its commercial rollout and see more interest from the market. Claire adds a layer of AI image analysis to the company’s existing breast tumor margin assessment product, making it easier and faster for surgeons to use. It also adds new revenue opportunities since the company can charge more per procedure by bundling the software with the tissue immobilizer consumable.”
“We could also see a Medicare reimbursement decision near the end of the year and management has spoken about a potential move to the Nasdaq to expand the capital markets pool for the stock,” added Dr. McAuley.
With respect to Perimeter’s acquisition potential, Dr. McAuley wrote, “Shares are trading at 2.3x our 2027 revenue estimate. M&A for high-growth and high-margin medtech companies has been an average of 10.3x revenue (median of 9.3x),” he added. “Specifically, we have seen some takeouts in the breast surgery space over the past few years, with View Point Medical (private) acquired by Merit Medical Systems (MMSI) in April 2026, Endomag (private) acquired by Hologic (HOLX) in April 2024 and Molli Surgical (private) acquired by Stryker (SYK) in July 2024. All three had tumor localization products, which are needed at the beginning of surgery, versus Perimeter’s margin assessment product, which would be used near the end of the procedure. View Point was acquired for 9.3x forward revenue and Endomag at 8.9x. We see margin assessment as a near-term focus for medtech strategics and more commercial adoption of Claire will bring more recognition from the market.”
Dr. McAuley also maintained his previous Top Pick call on Profound Medical (NASDAQ:PROF; TSX:PRN), rating the stock a “buy” with a US$11.20 price target. The stock closed at US$6.81 on July 2.
“We believe Profound Medical is at the tip of a commercial inflection point and market rerating. The pace of sales is picking up, commercial insurers are getting on board and the clinical data continues to support TULSA as a standard of care for prostate cancer,” wrote Dr. McAuley.
