UPDATE: Canaccord Genuity Raises HeartWare International's PT

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According to a research report published this morning, Canaccord Genuity has increased HeartWare International's (NASDAQ: HTWR) PT from $95 to $101.In the report, Canaccord Genuity commented, "With HTWR crushing Q1 results, taking over the #1 LVAD share position OUS for the first time, and offering a plethora of potentially favorable upcoming catalysts (FDA approval and launch, first in man for MVAD, GLP studies for fully-implantable device), we reiterate HTWR as one of our best ideas for 2012. HTWR crushed our/consensus Q1 estimates, with OUS HVAD sales growing over 60% Y/Y, and eclipsing our estimate by ~50%. Currently in discussions with FDA on HVAD labeling and a post-approval study, HTWR is seemingly on track to hit our launch estimate of September."Canaccord Genuity maintains its Buy rating on HeartWare International, which closed yesterday at $77.14.

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