ABIOMED (ABMD) Impella Data Shows a Sharp Rebound in April - Jefferies
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Jefferies analyst Raj Denhoy reiterated a Buy rating and $425.00 price target on ABIOMED (NASDAQ: ABMD) noting that his dataset, representing Impella data from ~40% of all US sites, showed a sharp rebound in April.
The analyst stated "Our monthly Impella tracker captures data from ~40% of all US Impella sites. The model addresses panel changes, reporting lags, and imputes missing data to improve predictive ability. The output is a dataset that is highly correlated to US Impella actual results over the past 13 quarters with an r-squared of 0.82 using our full panel approach and 0.86 using our same-store approach. The data shows US Impella growth tracking +53-64% versus +49-50% in consensus."
Shares of ABIOMED closed at $298.13 yesterday.
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