Canaccord Genuity Reiterates Buy Rating on Merit Medical Systems, Inc. (MMSI)

Canaccord Genuity analyst John Young reiterated a Buy rating and $127.00 price target on Merit Medical Systems, Inc. (NASDAQ: MMSI).

The analyst commented: "This morning, Merit Medical announced that it has received FDA approval for its Wrapsody Cell-Impermeable Endoprosthesis; the company will begin commercialization of the product in 2025. MMSI also announced that it will host an informational call for investors on Wrapsody and its forecasted opportunity on January 28. Given our model today does not contemplate contribution from Wrapsody (nor does MMSI’s LRP), revenue from the product would be upside to our current estimates. MMSI provided some details this morning, noting that nearly 100,000 procedures annually in the United States involve the placement of a stent to maintain dialysis access. We also know that MMSI will launch the product (its first PMA product) with premium pricing to support the NTAP cost requirements (the company is also pursuing TPT add-on reimbursement as well). Previously, management noted that it could be eligible for payment as early as Q3/25 for a period of two years for TPT (and likely three years for NTAP). We expect that the company will use the investor event to further frame the opportunity, competition, and how it expects revenue to ramp as add-on reimbursement comes online."

For an analyst ratings summary and ratings history on Merit Medical Systems, Inc. click here. For more ratings news on Merit Medical Systems, Inc. click here.

Shares of Merit Medical Systems, Inc. closed at $96.27 yesterday.

You May Also Be Interested In

• Stripe, Advent In Talks To Buy Paypal - WSJ
• Full Circle Lithium closes $5.14M private placement
• Intuitive Machines Inc. (LUNR) PT Lowered to $32 at Cantor Fitzgerald, Reaffirms Overweight Rating