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Fly News Breaks for June 5, 2015
NVDQ
Jun 5, 2015 | 06:11 EDT
Piper Jaffray recommends using the pullback in shares of Novadaq after an abstract at ASCRS indicated no benefit to anastomotic leaks for patients where the company’s technology was used as a buying opportunity. Piper says the abstract’s lead author, Dr. Mark Welton, indicated to the firm that Novadaq's SPY technology caught a "meaningful number" of leaks and that the non-SPY arm leak rate was abnormally low compared to typical results, suggesting study error. Piper keeps an Overweight rating on the stock with a $19 price target.
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