Cantor Positive on FDA Approval of ZELTIQ Aesthetics' (ZLTQ) Thigh Area Products; Affirms 'Buy' Rating
- Top 10 News for 8/25 - 8/29: S&P 500's New Record; U.S. Q2 GDP Outpaces Views; Major Mergers Aplenty
- AIG's (AIG) Peter Hancock Assumes CEO Role; Benmosche Becomes Advisor
- Pressure on U.S. to Update Terror Alert System After U.K. Raises Terror Threat Level
- American Airlines Group (AAL)/Orbitz Worldwide (OWW) Reach Agreement; American Airlines Back on Orbitz Sites
- FTC Requests Additional Info from Reynolds American (RAI), Lorillard (LO) on Pending Deal
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.
You May Also Be Interested In
- Repros Therapeutics (RPRX) PT Lifted to $30 at BofA/Merrill Lynch; Sees Higher Chance for Androxal Approval
- Stratasys (SSYS) is Favorite 3D Printing Idea at Stifel Nicolaus; Analyst Starts at Buy
- Wedbush Downgrades Casella Waste Systems (CWST) to Neutral
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!