Piper Jaffray Reiterates Overweight Rating On ABIOMED

According to Piper Jaffray, ABIOMED ABMD Overweight rating is reiterated. Piper Jaffray said that Abiomed delivered strong top line results for Q4:F11. “Revenue in the quarter totaled $28.5M (+24%), ahead of our $27.4M and consensus $27.7M estimates. GAAP EPS of ($0.05) was modestly below consensus of ($0.04) and PJC estimate of ($0.03). The company was cash flow positive for Q4, and expects to remain so through FY12. First time FY12 revenue guidance was for $120-$125M (+20-24%) vs consensus of $119M. We are raising our estimates and increasing our price target to $20/share. We reiterate our Overweight rating.” ABIOMED closed yesterday at $17.65.