Piper Jaffray Reiterates an Overweight on ABIOMED (ABMD); Raises PT
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Piper Jaffray & Co. reiterates an Overweight on ABIOMED, Inc. (Nasdaq: ABMD); raises price target from $10 to $12
Piper analyst says, "Given the recent positive clinical news flow from TCT and increasing appetite by investors for small/mid cap growth stocks, we think there's additional upside in ABMD from current levels...Abiomed has been one of the top performing stocks in our coverage universe. The stock has nearly doubled since this past April. While we think much of the easy money stock has been made, we think there's further upside to the stock, and as such, we are maintaining our Overweight rating...Our price target is based on the stock trading at ~4.0x (prev. 3.5x) on an EV to calendar 2010 sales basis (sales $99.5M, net cash $55M, 37.4M shares)."
To see more analyst ratings on ABMD Click Here.
Abiomed, Inc. and its subsidiaries manufacture and sell medical devices in circulatory support that offer a continuum of care in heart recovery to acute heart failure patients.
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