Wunderlich Securities Reiterates Hold Rating, $96 PT on HeartWare International
In a report published Wednesday, Wunderlich Securities reiterated its Hold rating and $96.00 price target on HeartWare International (NASDAQ: HTWR).
Wunderlich Securities noted, “We are updating our estimates for Heartware (HTWR) following last week's FDA approval of the HVAD device. While the approval was a major achievement for HTWR and contained some very positive aspects, the FDA's decision to include interim data from the ENDURANCE trial has re-ignited stroke concerns for the HVAD, an issue that has weighed on the stock for much of the past two years. While the subsequent pullback in the shares has heightened our interest, we are moderating our revenue assumptions as stroke concerns could slow the pace of uptake at non-trial centers. Despite our favorable outlook for HTWR, we reiterate our Hold rating as we believe lingering stroke concerns could allow for an even more attractive near-term entry point.”
HeartWare International closed on Tuesday at $76.43.
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