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UPDATE: Canaccord Genuity Raises PT to $12.50 on Sunshine Heart Following Pivotal Trial Approval

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Canaccord Genuity reiterated its Buy rating on Sunshine Heart (NASDAQ: SSH) and raised its price target from $11 to $12.50.

Canaccord Genuity noted, " Sunshine Heart received FDA conditional approval for the C-Pulse pivotal trial. As expected, the trial will enroll 388 Class III/IV HF patients randomized to either C-Pulse or optimal medical therapy at 30-40 centers. … In addition, SSH has been granted approval to sell C-Pulse into the trial. We're maintaining our F2012 estimates, as it can take several months for centers to receive IRB approval prior to enrolling patients. That said, we believe it's possible the company could start booking revenue this quarter."

Sunshine Heart closed at $8.75 on Friday.

Latest Ratings for SSH

DateFirmActionFromTo
Feb 2014BTIG ResearchInitiates Coverage onNeutral
Oct 2013BenchmarkInitiates Coverage onSpeculative Buy
Jul 2013OppenheimerInitiates Coverage onOutperform

View More Analyst Ratings for SSH
View the Latest Analyst Ratings

Posted-In: Canaccord GenuityAnalyst Color Price Target Intraday Update Analyst Ratings

 

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