Edwards Lifesciences (EW) PT Raised to $215 at Canaccord Genuity Following PARTNER 3 Study

Canaccord Genuity analyst Jason Mills raised the price target on Edwards Lifesciences (NYSE: EW) to $215.00 (from $190.00) while maintaining a Buy rating after PARTNER 3 delivered superiority to surgery (SAVR), thanks to extremely low all-cause mortality (1.0%) and stroke (1.2% overall; 0.2% disabling stroke) rates at one year.

"We think these data will give EW a definitive marketing advantage in the TAVR market – relative to both MDT (whose Evolut LR study also hit its non-inferiority endpoint, discussed later in this report) and BSX, which we think now has a higher hurdle to clear in TAVR than pre-P3 data release," the analyst commented.

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