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NVRO

Nevro

$44.05

-16.04 (-26.69%)

, BSX

Boston Scientific

$33.56

-0.16 (-0.47%)

07:33
07/25/18
07/25
07:33
07/25/18
07:33

Nevro selloff overdone, says Leerink

Leerink analyst Danielle Antalffy is defending Nevro (NVRO) shares after a 26% selloff in response to a summary judgment ruling in which either the company's patents were ruled invalid or Boston Scientific (BSX) was ruled to not infringe. The analyst believes that even in a worst-case scenario, namely one in which Nevro's patents are invalidated, allowing other manufacturers to pursue high frequency therapy, the company would still be able to grow sales by about 5% in 2019. Antalffy reiterates an Outperform rating and $90 price target on Nevro's shares as she continues to believe the company's fundamentals remain relatively strong, particularly given where the stock is currently trading.

NVRO

Nevro

$44.05

-16.04 (-26.69%)

BSX

Boston Scientific

$33.56

-0.16 (-0.47%)

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NVRO Nevro
$44.05

-16.04 (-26.69%)

07/17/18
WBLR
07/17/18
NO CHANGE
WBLR
Outperform
Nevro risk/reward favorable at current levels, says William Blair
William Blair analyst Margaret Kaczor believes Nevro's lowered 2018 outlook reset expectations and gives the company room to meet or exceed estimates going forward. She does not see a change in the underlying long-term business dynamics. The stock's risk/reward is favorable and Nevro's "strong" clinical and product pipeline and brand in the marketplace has value that is not fully reflected in the stock at these levels, Kaczor tells investors in a research note. She keeps an Outperform rating on the shares.
07/17/18
LEER
07/17/18
NO CHANGE
Target $90
LEER
Outperform
Nevro price target lowered to $90 from $95 at Leerink
Leerink analyst Danielle Antalffy lowered her price target for Nevro to $90 from $95, while reiterating an Outperform rating on the shares. The analyst acknowledges that given the execution issues over the past 18 months, management is in "the penalty box." But Antalffy also believes that Nevro's story remains intact from a fundamental perspective, as Spinal Cord Stimulation is a sustainable double-digit growth market for the foreseeable future, with further acceleration possible as new indications come online, and Nevro has a highly differentiated product with what she views as still the best-in-class clinical data to support it. The risk/reward is now much more favorable, she contends.
07/25/18
JPMS
07/25/18
NO CHANGE
Target $77
JPMS
Overweight
Nevro selloff yesterday a 'clear buying opportunity,' says JPMorgan
JPMorgan analyst Robbie Marcus views yesterday's selloff in shares of Nevro (NVRO) as a "clear buying opportunity." The headlines suggest Boston Scientific (BSX) was the clear winner in the summary judgment, but the "nuance in the actual ruling swings this in favor of Nevro," Marcus tells investors in a research note. The analyst's interpretation is that while Boston doesn't infringe Nevro's three remaining patents with its current trials and U.S. commercialized tonic stimulation devices, the ruling implies that any attempt to actually commercialize a high-frequency device in the U.S. remains an infringement of Nevro's remaining patents '102 and '472. While Nevro's systems claims patents were ruled invalid, the company's broader method claim patents were upheld, Marcus writes. He keeps an Overweight rating on Nevro with a $77 price target. The stock closed yesterday down 26%, or $15.78, to $44.22.
07/25/18
ADAM
07/25/18
NO CHANGE
Target $80
ADAM
Buy
Nevro weakness a buying opportunity, says Canaccord
Canaccord analyst Jason Mills said the weakness in Nevro (NVRO) following a summary judgment announced yesterday in its patent dispute with Boston Scientific (BSX) is a buying opportunity. The analyst said the move yesterday priced in a worst-case scenario, implying Nevro will lose all IP protection over its HF-10kHz technology, but he believes the current situation is more nuanced and the ultimate outcomes remain fluid. He believes the market overreacted and he recommends investors buy the weakness. Mills reiterated his Buy rating and $80 price target on Nevro shares.
BSX Boston Scientific
$33.56

-0.16 (-0.47%)

07/23/18
RBCM
07/23/18
NO CHANGE
Target $36
RBCM
Top Pick
Boston Scientific price target raised to $36 from $32 at RBC Capital
RBC Capital analyst Glenn Novarro raised his price target on Boston Scientific to $36 and kept his Top Pick rating ahead of its Q2 earnings, saying it is "one of the elite growth companies in large-cap MedTech" with a possibility of being an acquisition target, warranting its premium valuation. The analyst notes however that after a 36% year-to-date run-up in the stock price, operational revenue growth closer to the high end of the forecast 5%-7% growth rate and a FY18 guidance increase are needed to move the stock price higher in the short term.
07/23/18
RHCO
07/23/18
NO CHANGE
Target $39
RHCO
Buy
Boston Scientific price target raised to $39 from $34 at SunTrust
SunTrust analyst Bruce Nudell raised his price target on Boston Scientific (BSX) to $39 and kept his Buy rating ahead of its Q2 results, saying that based on the pipeline and market opportunities discussed at the recent Endoscopy analyst meeting, a higher long-term assumption for the sector is warranted. Nudell expects the management to discuss the recent speculation about a proposed acquisition offer by Stryker (SYK), the U.S. Watchman momentum, and the opportunity of other products like Spectra WaveWriter, Vercise, Resonate w/HeartLogic, ACURATE, and the EP portfolio inclusive of DirectSense.

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LRCX

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MRVL

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AMAT

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MU

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KEYS

Keysight Technologies

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BYND

Beyond Meat

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6.28 (3.69%)

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NFLX

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0.15 (0.87%)

SBNY

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USB

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MA

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T

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-0.32 (-0.97%)

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LGF.A

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EFX

Equifax

$137.29

-2 (-1.44%)

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CBS

CBS

$50.68

-0.66 (-1.29%)

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AT&T

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NFLX

Netflix

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JNJ

Johnson & Johnson

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MRKR

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RDY

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KLAC

KLA-Tencor

$131.95

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LRCX

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$198.43

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MRVL

Marvell

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KEYS

Keysight Technologies

$87.43

0.05 (0.06%)

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MU

Micron

$45.51

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TCEHY

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PYPL

PayPal

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USB

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CMG

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BYND

Beyond Meat

$176.65

6.28 (3.69%)

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