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Fly News Breaks for May 5, 2016
HTWR
May 5, 2016 | 08:25 EDT
Leerink analyst Danielle Antalffy lowered her price target for HeartWare to $40 from $45 after the company reported Q1 sales below expectations as ongoing competitive dynamics continue to pressure the company's near-term growth outlook. However, the analyst continues to believe that with a mid-2017 approval in Destination Therapy, HeartWare is "well-positioned" to deliver an accelerating mid-teens sales growth profile. Antalffy reiterates an Outperform rating on the shares.
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