Oppenheimer analyst Suraj Kalia raised the price target on TransMedics Group (NASDAQ: TMDX) to $40.00 (from $25.00) while maintaining an Outperform rating.

The analyst commented, "After close (3/1), TransMedics announced FDA has communicated its intent to hold a Circulatory Systems Device Advisory Panel meeting on 4/6. While just outside the previously expected 1Q21 date, we're just glad to see it on the calendar, given all the competing COVID-19 priorities. While we don't yet see the meeting on the FDA's AdCom calendar, we'll be on the lookout for briefing documents (April 2nd). We'll also look for more on TMDX's 4Q call tomorrow night (Tuesday AMC). Raising our PT from $25 to $40, as the scheduling of the panel clears a near-term overhang on the story. Reiterate Outperform."