Loewen, Ondaatje, McCutcheon Starts Cardica, Inc. (CRDC) at Buy

January 2, 2013 9:04 AM EST
Get Alerts CRDC Hot Sheet
Price: $2.35 --0%

Rating Summary:
    3 Buy, 1 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 23 | Down: 31 | New: 34
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Loewen, Ondaatje, McCutcheon initiates coverage on Cardica, Inc. (NASDAQ: CRDC) with a Buy. PT $2.50.

The firm comments, "Cardica is an exciting turnaround story that will be driven by its recent commercial entry into the $1.6 billion global endoscopic stapler market. The Company’s MicroCutter XCHANGE 30 is a unique and highly differentiated surgical instrument that, among several advantages, is substantially smaller than competing products. Based on our clinician and industry due diligence, we believe Cardica is well‐positioned to capture a significant share of the 4 million minimally invasive surgeries performed annually worldwide that utilize an endoscopic stapler."

For an analyst ratings summary and ratings history on Cardica, Inc. click here. For more ratings news on Cardica, Inc. click here.

Shares of Cardica, Inc. closed at $1.07 yesterday.

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