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UPDATE: Wunderlich Initiates Cardiovascular Systems with Buy on Positive Outlook

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In a report published Friday, Wunderlich Securities analyst James Terwilliger initiated coverage on Cardiovascular Systems (NASDAQ: CSII) with a Buy rating and $24.00 price target.

In the report, Wunderlich Securities noted, “We are initiating coverage of Cardiovascular Systems, Inc. (CSII) with a Buy rating and a 12-month price target of $24.00, or 4.0x our fiscal 2015 revenue per share estimate of $6.08. CSII is a medical device company focused on minimally invasive treatments for vascular disease. CSII's initial focus is on the treatment of peripheral artery disease (PAD). CSII's products are catheter-based systems capable of treating a range of plaque types in leg arteries both above and below the knee. CSII intends to expand its catheter-based systems and move into the interventional coronary market. CSII has already sent its PMA application to the FDA to treat coronary artery disease. We assume regulatory approval and a coronary product launch in the U.S. in Q114.”

Cardiovascular Systems closed on Thursday at $20.79.

Latest Ratings for CSII

DateFirmActionFromTo
Aug 2016Leerink SwannUpgradesMarket PerformOutperform
Aug 2016Bank of AmericaUpgradesUnderperformNeutral
Apr 2016NeedhamUpgradesHoldBuy

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Posted-In: James Terwilliger Wunderlich SecuritiesAnalyst Color Initiation Analyst Ratings

 

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