Piper Jaffray Overweight On ABIOMED (ABMD)

Piper Jaffray is maintaining its Overweight rating and $12 price target on ABIOMED, Inc. (NASDAQ: ABMD), after meeting with company management yesterday.

In the research report, Piper Jaffray writes, "The meeting reinforced our thesis on the company's growth potential over the next several years driven by continued market adoption of the Impella percutaneous VAD. The body of clinical evidence for Impella continues to grow supporting its use in multiple applications. As a result, we think Abiomed is well positioned to deliver low double digit top-line growth over the next several years, which we think translates into a higher stock price as well. We maintain our Overweight rating on ABMD with a price target of $12."

Shares of ABIOMED lost 1 cent yesterday to close at $9.48.

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