Edwards Lifesciences (EW) PT Raised to at Jefferies Following PARTNER II Sapien 3 Data
Jefferies analyst Raj Denhoy reiterated a Buy rating and boosted his price target on Edwards Lifesciences (NYSE: EW) to $105.00 (from $100.00) after the much anticipated PARTNER II Sapien 3 data did not disappoint.
Denho commented, "Showing superiority to surgery on the primary endpoint was the best possible outcome but after a number of very positive recent studies, expectation in the clinical community for intermediate-risk was already very high. As such, while we are raising our numbers and price target, we think the impact will be more incremental, rather than transformative, to the trajectory."
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Shares of Edwards Lifesciences closed at $89.92 yesterday.