Piper Jaffray maintained an Overweight rating on AtriCure Inc. (NASDAQ: ATRC), and cut the price target to $22.00 (from $25.00), following the company's 4Q earnings report. ATRC reported revenues that came in-line with it's January’s pre-announcement. The loss per share was a little less than expected, due to lower-than-expected R&D expenses.

Analyst Thomas Gunderson commented, "ATRC reported Q4 revenues in line with January’s pre-announcement. The loss per share was slightly less than expected, mostly due to lower R&D expenses than we had estimated. Going forward 2016 guidance offered no surprises as much of the plan had been previously signaled. Our FY16 revenue estimate is staying at $162M (or 25% y/ y growth) and our EPS forecast is decreasing modestly by 7 cents to -$1.18. ATRC’s 25% revenue growth is a combination of an expected 18% organic growth coupled with the product revenues from a late 2015 acquisition (nContact). We like ATRC’s three year plan to invest heavily in key clinical trials, while still growing the revenue line by 15-20%, and crossing over to EBITDA positive in 2018. With Atricure the only public pureplay in a growing disease (Atrial Fibrillation), above average growth, strong product and development portfolios and proven management, we reiterate our Overweight rating."

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Shares of AtriCure Inc. closed at $16.80 yesterday.