Wunderlich Securities Maintains Hold Rating on Heartware International

A report from Wunderlich Securities reiterates its Hold rating and $80 price target on Heartware International HTWR. The report states, “…it now looks clear that Heartware's HVAD will not be reviewed by the FDA's Circulatory System Devices Panel meeting in early December. As a result, FDA approval of the HVAD will now almost certainly be delayed beyond the prevailing Street consensus of early 2012. But we expect the delay could be modest, with a panel meeting possible as soon as either January or February. We reiterate our Hold rating, but we believe an over-reaction to this news could result in an attractive buying opportunity for investors”. HTWR closed yesterday at $62.04.
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