Auriga's Thoratec Preparing to Overcome Competitive Hurdle
According to a research report published by Auriga, Thoratec Corporation's (NASDAQ: THOR) HeartMate II is experiencing an increased rate of thrombosis based on recent checks on the VAD space.
Auriga commented that, “The increased thrombosis rate is surprising given HM II's long history, low published rate of thrombosis (most recent ISHLT data was 0.025 Events/PPY) and high number of implants (8,000+ WW). Given the long track record, we do not view the uptick in thrombosis as a major setback for HM II, but as a reminder that thrombosis is not unique to any device. We expect THOR will be able to address the issue, just as HeartWare (HTWR, Hold) found a solution to its (well-publicized) thrombosis problem.”
Auriga maintains its Hold rating and $35.00 PT on Thoratec Corp., which closed yesterday at $29.68.
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