UPDATE: Piper Jaffray Raises PT on HeartWare International from $88 to $93
Piper Jaffray reiterated a Neutral rating on HeartWare International (NASDAQ: HTWR) and raised its price target from $88 to $93.
Piper Jaffray commented, “Heartware reported notably better than expected revenues and higher expenses in their second straight quarter of taking market share in Europe. US implants were minimal as expected, as HTWR is between clinical trials and awaiting its first FDA HVAD approval (we expect in Q4). HeartWare was impressive in shipping 286 HVAD units internationally as compared to THOR's 212 units, which included a small portion of PVAD/IVADs. On the FDA front, our 3-4 month turnaround time from the positive panel for HTWR's PMA now seems too optimistic.”
HeartWare International closed at $86.88 on Tuesday.
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