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NVRO

Nevro

$45.65

-2 (-4.20%)

07:03
11/06/18
11/06
07:03
11/06/18
07:03

Nevro downgraded to Neutral from Overweight at JPMorgan

JPMorgan analyst Robbie Marcus downgraded Nevro to Neutral and lowered his price target for the shares to $45 from $77. Nevro posted Q3 results that beat conservative expectations, but "this was more than offset by first-time color on 2019 growth that came in well below consensus," Marcus tells investors in a post-earnings research note. The analyst believes Street numbers for 2019 revenue growth need to come down to the high-single-digit range from low-double-digits currently, and he wouldn't be surprised to see out-year expectations lowered to a similar range given the commentary. Marcus still believes Nevro's longer term outlook is attractive, but is stepping to the sidelines "with growth looking to slow meaningfully for at least the next few quarters."

NVRO Nevro
$45.65

-2 (-4.20%)

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.
07/25/18
LEER
07/25/18
NO CHANGE
Target $90
LEER
Outperform
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.
07/25/18
WBLR
07/25/18
NO CHANGE
WBLR
Outperform
Nevro patent ruling not as bad as it seems, says William Blair
William Blair analyst Margaret Kaczor says the summary judgement issued yesterday is not as bad as it seems for Nevro (NVRO). While the initial headline appears negative, the ruling is similar to the preliminary judgment published earlier this month, Kaczor tells investors in a research note. Though some of the claims in the patents have been invalidated, the remaining claims, which include frequency ranges of 1.5 kHz to 100 kHz, were not invalidated, the analyst adds. She points out, though, that the judge found Boston Scientific (BSX) did not infringe on the claims as its commercially available devices could not be programmed to frequencies that would infringe and that devices that could be programmed to high frequency that are being used in clinical trials are included in safe harbor provisions. This leaves the door open in the event that Boston commercially launches a device within the frequency ranges referenced above, Kaczor writes. She believes, however, that even if Boston moves to launch a high frequency device in the United States, the company would likely have to file for FDA approval following the completion of its high-frequency trial. Despite some level of uncertainty this ruling may bring, Nevro's risk/reward is favorable, Kaczor contends. She keeps an Outperform rating on the shares.
10/19/18
GSCO
10/19/18
DOWNGRADE
Target $44
GSCO
Sell
Nevro downgraded to Sell from Neutral at Goldman Sachs
Goldman Sachs analyst Isaac Ro downgraded Nevro (NRVO) to Sell and lowered his price target for the shares to $44 from $60. The company's cycle of negative estimate revisions is not yet over, Ro tells investors in a research note where he also upgraded DexCom (DXCM) to Neutral. The analyst thinks consensus revenue expectations for Nevro are still too high amid "ramping" competition, the company's ongoing patent litigation with Boston Scientific (BSX) and the hiring disruption in its sales force.

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PLXP

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CNMD

Conmed

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ICPT

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  • 18

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ICPT

Intercept

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NBLX

Noble Midstream

$32.09

-0.04 (-0.12%)

07:21
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FCAU

Fiat Chrysler

$14.75

0.09 (0.61%)

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XPO

XPO Logistics

$52.01

-7.535 (-12.65%)

, UPS

UPS

$110.89

-0.91 (-0.81%)

07:20
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Downgrade
XPO Logistics, UPS, FedEx, C.H. Robinson, Amazon.com rating change  »

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XPO Logistics

$52.01

-7.535 (-12.65%)

UPS

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$110.89

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FDX

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AMZN

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CTB

Cooper Tire

$34.04

0.66 (1.98%)

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XPO

XPO Logistics

$52.01

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OPTN

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SXT

Sensient

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CRSP

Crispr Therapeutics

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CEVA

Ceva

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PLUG

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CTB

Cooper Tire

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ARAV

Aravive

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CASI

Casi Pharmaceuticals

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SPPI

Spectrum

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PHIIK

PHI Inc

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XPO

XPO Logistics

$52.01

-7.535 (-12.65%)

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