Barrington Research Maintains Outperform Rating and $20 PT on Conceptus

A report from Barrington Research reiterates its Outperform rating and $20 price target on Conceptus (NASDAQ: CPTS).

The report states, “CPTS reported revenue and earnings that were below both our estimates and Consensus… We believe Essure is the best device with the most cost effective, efficacious and safe solution on or near to market with improving fourth and fifth generation devices in the pipeline. We believe the major OBGYN medical societies will make transcervical sterilization standard of care over the next nine months and we believe this will have a step-function change in revenue”.

CPTS closed yesterday at $11.61.