Piper Jaffray Provides Color on Edwards Lifesciences

Piper Jaffray provided color on Edwards Lifesciences

. In a research report published today, the rating agency commented on FDA's favorable response to the company's new product. In the report, Piper Jaffray states, “The FDA held an advisory panel meeting for EW's Sapien® valve on Wednesday. As expected, the overall view from FDA and a majority of the panelists was favorable, despite considerable discussion on the higher stroke rates experienced with the device. We continue to believe Sapien® will be approved on time or early in the US, and that the Company's goal of $25M in US sales by year end will be met or exceeded.” At the moment, Piper Jaffray has an Overweight rating and a price target of $94 placed on the company's stock. On Wednesday, EW lost 2.36% of its value to end the day at $87.53.