Silk Road Medical (SILK) Adoption Should Accelerate After TCAR Clinical Competence Statement - Stifel

Stifel analyst Rick Wise reiterated a Buy rating and $47.00 price target on Silk Road Medical (NASDAQ: SILK) after the company announced that a TCAR “clinical competence statement”, providing TCAR-specific training and hospital/physician credentialing guidance, has been published in the Journal of Vascular Surgery.

The analyst stated "We view today’s announcement as another incremental positive step forward for TCAR/SILK, further validating TCAR's role in treating carotid artery disease. This should be directionally-positive for steadily-increasing adoption, particularly at new centers. The SVS statement outlines three physician credentialing pathways, and recommended endovascular/surgical skills, required to obtain/maintain clinical privileges to perform TCAR within an institution. Based on our recent proprietary physician due-diligence, we believe this kind of specific, clearly-outlined training and credentialing program should help simplify TCAR program on-boarding, reducing the time and logistical hurdles to do so. In the release, the company indicated that new SVS guidelines are consistent with Silk Road’s current medical certification and training process, which to us suggests that the new guidelines should not represent new logistical hurdles".

For an analyst ratings summary and ratings history on Silk Road Medical click here. For more ratings news on Silk Road Medical click here.

Shares of Silk Road Medical closed at $41.89 yesterday.

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