JP Morgan on Edwards Lifesciences: Sapien Panel Will Have to Wait Until June

JP Morgan has published a research report on Edwards Lifesciences

stating that the Sapien panel will be delayed until June of 2012. In the report, JP Morgan writes, "The Federal Register has posted details on its website for the FDA Circulatory System Devices Panel for May 24th, which does not include a review of Edwards' Cohort A data set for Sapien. Instead, the agency will review adverse events associated with two atrial septal defect (ASD) devices from STJ and Gore. For Edwards, this will come as a disappointment for investors who had hoped for a May panel on the heels of this week's release of the Cohort A data at ACC. For St. Jude, this is a risk evaluation panel, and Amplatzer sales for PFO are not material." JP Morgan maintains its Neutral rating on Edwards Lifesciences, which is currently trading down $1.15 from yesterday's $75.51 closing price.