ABIOMED (ABMD) Physician Survey - Jefferies

October 5, 2021 8:20 AM EDT
Get Alerts ABMD Hot Sheet
Price: $351.69 +0.09%

Rating Summary:
    11 Buy, 6 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 15 | Down: 25 | New: 91
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Jefferies analyst Anthony Petrone reiterated an Outperform rating and $425.00 price target on ABIOMED (NASDAQ: ABMD) after the analyst conducted a physician survey to better gauge how the pending ECP launch and potential Class I guideline inclusion in HRPCI will
impact Impella utilization over the next 3-5Y.

The analyst stated "Prior to the onset of the pandemic, Impella growth decelerated on a confluence of idiosyncratic impacts. However, we see the eventual launch of the smaller ECP heart pump and PROTECT IV high-risk PCI (HRPCI) data as key drivers capable of re-invigorating growth back to the 25%+ level. Our survey found that: 1) 74% of docs have not shifted Impella utilization in response to 2019 & 2021 randomized studies, 2) nearly 80% see ECP addressing elevated AE incidence and 3) Class I guidelines will drive HRPCI utilization +30% post inclusion. Our upwardly revised F2025 top-line forecast is now Street high at $1.8B. In addition, our updated Impella tracker suggests that volumes remain resilient despite the impact from the delta variant."

For an analyst ratings summary and ratings history on ABIOMED click here. For more ratings news on ABIOMED click here.

Shares of ABIOMED closed at $313.87 yesterday.

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