Piper Jaffray Initiates Coverage on Hansen Medical (HNSN) with a Buy
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Piper Jaffray & Co. initiates coverage on Hansen Medical (Nasdaq: HNSN) with a Buy. Price target $6.
Piper analyst says, "We think Hansen's Sensei system has the potential to be an enabling technology platform for assistance of catheter-based minimally invasive medical procedures. The system is currently employed to assist in the ablation of complex arrhythmias including atrial fibrillation (AF). The stock has been under pressure in recent months given the difficult market backdrop for capital equipment. However, as we look out into 2010, we think that as the overall economy starts to pick back up, the market outlook for capital equipment companies will improve in sync. This could translate into an upward multiple expansion for capital equipment companies such as Hansen."
Hansen Medical, Inc. (Hansen Medical) develops, manufactures and sells generation of medical robotics designed for accurate positioning, manipulation and stable control of catheters and catheter-based technologies.
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