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Fly News Breaks for January 12, 2016
HTWR
Jan 12, 2016 | 06:03 EDT
JPMorgan analyst Christopher Pasquale downgraded Heartware International to Neutral after the company announced at his firm's conference that two more pump thromboses have been observed in the MVAD CE Mark trial. Nearly half of the 11 patients implanted with MVAD have now suffered a serious adverse outcome, Pasquale tells investors in a research note. The analyst sees "significantly" increased odds that a redesign of the pump and/or a regulatory delay may be required to bring MVAD to market. He cut his price target for HeartWare shares to $39 from $56.
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