UPDATE - Barclays Upgraded Heartware Int'l (HTWR) to Overweight Ahead of Panel Voting
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Price: $57.98 --0%
Rating Summary:
5 Buy, 14 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
5 Buy, 14 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UPDATE - Barclays upgraded Heartware Int'l (NASDAQ: HTWR) from Equalweight to Overweight, maintains price target of $80.00.
Analyst, Matthew Taylor, said, "While there are a number of 'panel risks' that will come into focus at HTWR's 4/25 FDA meeting (which we believe pressured shares over the last two months), we believe the most probable outcome is that HTWR's HVAD device receives a recommendation for approval. On that basis, we think that the stock will work in the near term and are upgrading shares in anticipation of a favorable panel vote."
Taylor also commented on competitor, Thortec..."we think competitive pressure is already baked in shares of Thoratec (Nasdaq: THOR) given 2012 guidance for a mid-year competitive launch and Street numbers that appear to be assuming HTWR BTT share of ~40% exiting 2012 and 40-50% next year (we are modestly lower). "
FY12 loss cut from -2.55 to -3.54 and FY13 from $0.20 to -1.05.
Analyst, Matthew Taylor, said, "While there are a number of 'panel risks' that will come into focus at HTWR's 4/25 FDA meeting (which we believe pressured shares over the last two months), we believe the most probable outcome is that HTWR's HVAD device receives a recommendation for approval. On that basis, we think that the stock will work in the near term and are upgrading shares in anticipation of a favorable panel vote."
Taylor also commented on competitor, Thortec..."we think competitive pressure is already baked in shares of Thoratec (Nasdaq: THOR) given 2012 guidance for a mid-year competitive launch and Street numbers that appear to be assuming HTWR BTT share of ~40% exiting 2012 and 40-50% next year (we are modestly lower). "
FY12 loss cut from -2.55 to -3.54 and FY13 from $0.20 to -1.05.
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