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Fly News Breaks for October 21, 2016
SPNC
Oct 21, 2016 | 09:18 EDT
Needham analyst Mike Matson raised his price target for Spectranetics to $32 from $27 ahead of results from the company's ILLUMENATE Pivotal trial, which should be presented next month. With earlier data showing "very good" results, the analyst expects the pivotal data to be similar. Nonetheless, Matson thinks Spectranetics's shares may be range-bound until the Stellarex approval drives a significant acceleration in revenue growth next year. The analyst reiterates a Buy rating on the stock.
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