Piper Sandler analyst Matt O’Brien lowered the firm’s price target on TransMedics (TMDX) to $110 from $180 and keeps an Overweight rating on the shares. A debate on heart transplant versus mechanical circulatory support called for expansion of the donor pool through adopting DCD procurement and preservation technologies. The firm believes the total market opportunity is likely underestimated as limited donor availability was noted as a reason why patients don’t even make it on the waitlist. Market expansion would primarily benefit TransMedics considering it has the only FDA approved machine perfusion device for hearts at the moment, Piper adds.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on TMDX:
- TransMedics price target lowered to $104 from $109 at Canaccord
- TransMedics price target lowered to $120 from $175 at TD Cowen
- TransMedics Group call volume above normal and directionally bullish
- McDonald’s, Ford, Pfizer report Q3 earnings beats: Morning Buzz
- TransMedics price target lowered to $109 from $208 at Needham
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
