Cantor Positive on FDA Approval of ZELTIQ Aesthetics' (ZLTQ) Thigh Area Products; Affirms 'Buy' Rating
- Market Wrap: Horizon Pharma Gets Hostile on Depomed; Tesla Slumps on Downgrade; U.S. Trade Deficit Widens in May
- The Container Store Group, Inc. (TCS) Tops Q1 EPS by 2c, Offers FY15 Guidance
- After-Hours Stock Movers 07/07: (TCS) (TREE) (VMW) Higher; (CLVS) (KTWO) Lower (more...)
- Plug Power (PLUG) Reports Record Quarterly Revenues for Q2; Maintains FY15 Outlook
- Horizon Pharma (HZNP) Proposes to Acquire Depomed (DEPO) for $29.25/Share
ZELTIQ Aesthetics, Inc. (Nasdaq: ZLTQ) is positive Monday after the company announced it has received U.S. Food and Drug Administration (FDA) clearance to treat the thigh area with its entire suite of applicators. The CoolSculpting procedure is a clinically proven, non-surgical procedure that reduces fat in the treated area for good, and is already FDA cleared to treat the abdomen and flanks.
Cantor analyst Jeremy Feffer said,
Although the FDA approval was delayed somewhat, management does not expect any impact to revenue guidance, and the company remains on track to bring consumable sales to 50% of total revenues in 2014. Despite a more robust competitive landscape in light of Syneron's Ultrashape approval and Valeant's acquisition of Lipsonix, this remains a vastly underpenetrated market with strong utilization trends. We continue to believe that the pieces are in place for upside to management's 20-23% revenue growth guidance for 2014, setting up a 2015 that could be the beginning of sustainable profitability.
Feffer has ZELTIQ at Buy with a price target of $27.
Shares of ZELTIQ Aesthetics closed at $16.98 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: UBS Upgrades Electronic Arts (EA) to Buy
- Wedbush Cuts Price Target on Advanced Micro Devices (AMD) Following Negative Pre-Announcement
- Seagate Technology (STX) Numbers Lowered at Needham & Company But Top Rating Maintained
Create E-mail Alert Related CategoriesAnalyst Comments, FDA
Related EntitiesDefinitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!