Goldman Sachs has indicated that the share price of Mobia Medical could more than double as the company advances in an underserved segment of the stroke rehabilitation market.

The investment bank initiated coverage on this developer of neurostimulation therapies with a "Buy" rating and set a price target of $31. This target implies an upside potential of approximately 130% from Monday's closing price.

Mobia Medical (ASX: MOBI)

Analyst David Roman stated in a client report that, based on the company's innovative neurostimulation technology, the expansive market opportunity, the historical performance of comparable (small to mid-sized) medical technology companies in pioneering markets, and the anticipated revenue trajectory, the stock is emerging as a differentiated growth asset.