KBC Securities Initiates Research Coverage of ONWARD® Medical with a Buy Rating and Target Price of EUR 10.00 Per Share

ONWARD Medical N.V. ( Euronext : ONWD), the medical technology company creating innovative therapies to restore movement, function, and independence in people with spinal cord injury (SCI), today announced that KBC Securities, part of the KBC Group -- a leading Belgian integrated bank-insurance group -- has initiated research coverage of ONWARD Medical with a Buy rating and Target Price of EUR 10.00 per share. This is a premium of 161% to the closing price of EUR 3.83 on February 8, 2024.

The initiation report was published February 8, 2024. KBC joins three other banks whose research analysts cover ONWARD Medical, all of which maintain Buy ratings and Target Prices at substantial premiums to the current share price.

“ KBC Securities’ initiation of coverage reflects strong confidence in our ability to achieve this year’s milestones, which include the planned commercialization of our ARC-EX® platform later this year,” said Dave Marver, CEO of ONWARD Medical. “The KBC research team recognizes the potential value we can create for investors in coming quarters.”

To learn more about ONWARD Medical’s commitment to partnering with the SCI Community to develop innovative solutions for restoring movement, function, and independence after spinal cord injury, please visit ONWD.com.