| 2018-11-20 18:26:03|
LIVN 18:26 11/20 11/20/18
LivaNova price decline on CMS disclosure on TRD overdone, says Piper Jaffray
Piper Jaffray analyst Matt O'Brien kept his Overweight rating and $145 price target on LivaNova after the company's call to address the decision by U.S. Centers for Medicare & Medicaid Services regarding its National Coverage Determination for the LivaNova Vagus Nerve Stimulation Therapy System for Treatment-Resistant Depression, or TRD. The analyst states that his long-term TRD thesis is "largely unchanged", noting that the price decline today is likely overdone "given the potential for broad-based approval in 2020 or earlier assuming positive trial endpoints".