Piper Jaffray Maintains Overweight on ABIOMED (ABMD)

Piper Jaffray is out with its report today on ABIOMED ABMD, maintaining Overweight.

In a note to clients, Piper Jaffray writes, "We recently had a chance to catch up with the senior management team from Abiomed. The meeting reinforced our Overweight thesis on the stock and we came away incrementally more positive. Abiomed's percutaneous LVAD, Impella, has the potential to change the treatment paradigm for patients undergoing high risk angioplasty and those being treated for AMI-shock. The upcoming ACC meeting in early April is expected to be a catalyst for the stock with the presentation of the complete PROTECT II results. The study results could help drive further adoption as the year unfolds. We maintain our Overweight rating and $15 price target."

At the time of posting, shares of ABMD were trading at $13.48, down 0.88% from Thursday's close.