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Fly News Breaks for November 19, 2019
ABMD
Nov 19, 2019 | 08:11 EDT
Jefferies analyst Raj Denhoy said two presentations at the American Heart Association meeting suggest worse outcomes with Impella compared to intraortic balloon pumps, or IABP, but he contends that the studies "include several flaws and are at best more hypothesis-generating than anything definitive." Denhoy thinks the "dust storm around Impella" should linger but not persist, as he finds the AHA papers being in "stark contrast to reams of data" supporting the use of Impella and several studies showing IABP to have poor outcomes in these patients. The analyst, who concluded that his positive views on the longer-term opportunity for Abiomed and Impella are unchanged after the AHA meeting, keeps a Buy rating and $255 price target on the stock.
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