BTIG Starts Sunshine Heart (SSH) at Neutral (Earlier)

February 20, 2014 10:56 AM EST
Get Alerts SSH Hot Sheet
Price: $0.30 --0%

Rating Summary:
    7 Buy, 2 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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BTIG initiated coverage on Sunshine Heart (NASDAQ: SSH) with a Neutral rating.

Analyst Sean Lavin said, "We are positive on the C-Pulse technology and feel it offers advantages over other devices that are also currently aiming to treat Class III HF patients. We believe the fact that C-Pulse does not contact the bloodstream and thus should not require anticoagulation is the device’s greatest advantage. This should lead to a reduction in GI bleeds and hemorrhagic strokes that often plague LVAD patients. Being able to disconnect is also a positive for quality of life."

"Despite liking the technology, we are concerned by the current pace of enrollment in the company’s U.S. trial. We think it could be several years before this trial is complete, pushing FDA approval to 2018 or beyond. We believe the most meaningful thing to watch in 2014 is the pace of enrollment," he added.

For an analyst ratings summary and ratings history on Sunshine Heart click here. For more ratings news on Sunshine Heart click here.

Shares of Sunshine Heart closed at $9.02 yesterday.

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