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UPDATE: Wedbush Securities Raises PT to $105 on HeartWare International as FDA Approves HVAD

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Wedbush Securities reiterated its Outperform rating on HeartWare International (NASDAQ: HTWR) and increased its price target from $101 to $105.

Wedbush Securities commented, "FDA approves HVAD for Bridge-to-Transplant (BTT). The good: sintered device and non-restrictive label. The not-as-good: Label includes DT data snapshot with stroke rate imbalance. Favorable overall and maintain expectations for HVAD to take majority share of US BTT market by 2014. … We spoke with a number of US LVAD physicians at the American Heart Association (AHA) conference earlier this month and heard a unanimous opinion that the HVAD does not have a devicespecific thrombosis issue. Moreover, those with limited or no experience using the HVAD in clinical studies appear eager to test-drive the device."

HeartWare International closed at $89.54 on Tuesday.

Latest Ratings for HTWR

Aug 2016BTIG ResearchTerminatesNeutral
Jul 2016Leerink SwannDowngradesOutperformMarket Perform
Jun 2016Wells FargoDowngradesOutperformMarket Perform

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