Canaccord Genuity Reiterates a 'Buy' on Heartware Int'l (HTWR); Huge Q1 on Top Share in OUS

May 11, 2012 9:31 AM EDT
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Price: $57.98 --0%

Rating Summary:
    7 Buy, 17 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Canaccord Genuity reiterates a 'Buy' on Heartware Int'l (NASDAQ: HTWR) price target raised from $95 to $101.

Analyst, Jason R. Mills, said, "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."

"We raise our 2012 sales/loss per share (LPS) estimates to $134.4M/$(4.65) from $125.5M/$(5.06)."

For an analyst ratings summary and ratings history on Heartware Int'l click here. For more ratings news on Heartware Int'l click here.

Shares of Heartware Int'l closed at $77.14 yesterday.

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