Piper Sandler analyst Matt O’Brien raised the firm’s price target on Penumbra (PEN) to $250 from $235 and keeps an Overweight rating on the shares. The firm notes a recap of the CHEETAH trial was presented and reiterated the positive efficacy and safety outcomes from thrombus aspiration prior to standard of care PCI. New updates came regarding next steps. There seems to be an international, government funded randomized study in the works, which Piper believes could affect guidelines and drive greater mechanical thrombectomy share. While any market changes in coronary would likely not occur for many years, the firm is encouraged by the potential impact on one of Penumbra’s stickiest products.
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Read More on PEN:
- Penumbra’s CAVT technology shows benefits in pulmonary embolism
- Penumbra price target raised to $232 from $222 at RBC Capital
- Penumbra price target raised to $235 from $225 at Piper Sandler
- Penumbra price target raised to $248 from $244 at Baird
- Penumbra, Inc. Sees Strong Q3 Revenue Growth
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
