ShockWave Medical price target raised to $60 from $53 at Canaccord » 07:3708/1208/12/20
Canaccord analyst Jason…
Canaccord analyst Jason Mills raised the firm's price target on ShockWave Medical to $60 from $53 and keeps a Buy rating on the shares. The analyst noted is Q2 results exceeded expectations and that procedures bottomed in April and improved steadily thereafter with June and July sales improving. He said the company is putting the pieces together to accelerate momentum post-Covid.
ShockWave Medical reports Q2 EPS (56c), consensus (62c) » 16:2108/1108/11/20
Reports Q3 revenue…
Reports Q3 revenue $10.29M, consensus $8.35M."The progress we made during this past quarter, despite the hurdles and challenges of COVID-19, reflects the commitment and strength of our team and the uniqueness of our proprietary IVL technology," said Doug Godshall, President and CEO of Shockwave Medical. "The continued interest and demand for IVL has really demonstrated how highly valued Shockwave's technology continues to be as a safe, effective, efficient option for our customers who treat severely calcified cardiovascular disease. All of us at Shockwave have a great deal of gratitude and respect for our partners on the provider side of the system for their dedication to patients, particularly under such challenging conditions. We are honored to have been given an opportunity to work with so many extraordinary healthcare professionals."
|Over a week ago|
ShockWave '673 patent found to be invalid, says Piper Sandler » 05:1107/2107/21/20
The U.S. Patent Trial and…
The U.S. Patent Trial and Appeal Board yesterday found all challenged claims of ShockWave Medical's (SWAV) '673 patent are invalid, Piper Sandler analyst Adam Maeder tells investors in a research note. With the ruling, we now have initial decisions on all three inter partes review challenges regarding ShockWave's '673, '091, and '371 patents, the analyst points out. Although the scoreboard "heavily favors" Cardiovascular Systems (CSII), ShockWave still has a chance to appeal the invalidated claims, adds Maeder. The analyst says that more importantly, ShockWave has additional patents that could block a competitor from commercializing an intravascular lithotripsy device. Additionally, claim five from ShockWave's '371 patent was upheld earlier this month, which is an "important win," contends Maeder. The analyst says the company remains confident it will maintain exclusivity of IVL therapy. He maintains an Overweight rating on the shares with a $54 price target.
ShockWave Medical appoints Maria Sainz to board of directors » 08:1507/2007/20/20
Shockwave Medical announced that Maria Sainz has joined its Board of Directors and will serve on Shockwave's Compensation Committee. Ms. Sainz currently serves as CEO of Aegea Medical.
|Over a month ago|
ShockWave Medical patent outcome impact minimal, says Canaccord » 07:4007/0907/09/20
Canaccord analyst Jason…
Canaccord analyst Jason Mills said the ShockWave Medical patent IPR was not optimal but he he expects to see little or no impact from the decision. He sees the implications as benign for both the company and its future positioning as he sees the company's expanding patent portfolio as expanding its strong competitive moat. Mills reiterated his Buy rating and $53 price target on ShockWave Medical shares.
Piper sees 'key win' for ShockWave in claim 5 being upheld » 05:0607/0907/09/20
Piper Sandler analyst…
Piper Sandler analyst Adam Maeder keeps an Overweight rating on ShockWave Medical with a $54 price target after the U.S. Patent Trial and Appeal Board found the company's '091 patent as invalid, and claims 1-4, 6-17 of the '371 patent as unpatentable. The '091 patent is "relatively narrow" and covers pulse sensing/termination, whereas the '371 patent is broader and covers the concept of an angioplasty catheter able to break calcium using shockwaves, Maeder tells investors in a research note. While the company disagrees with the invalidity rulings and will appeal, a "key win" is that claim 5 from the '371 patent was upheld, says the analyst. Maeder notes that this claim describes a device delivered over a guidewire that generates shockwaves using electrodes inside of a balloon catheter. ShockWave believes its broader patent estate provides additional protection from competition, he adds.
ShockWave Medical ruling a negative, says Oppenheimer » 15:4607/0807/08/20
Oppenheimer analyst Suraj…
Oppenheimer analyst Suraj Kalia maintained a Perform rating on ShockWave Medical after the U.S. Patent Trial and Appeal Board ruled midday against ShockWave Medical. The analyst believes this decision is a negative, and "dents ShockWave's core IP claims, and eliminates a 'strategic appeal' to the story."
U.S. PTAB rules ShockWave's claims of '091 patent 'unpatentable' » 15:4607/0807/08/20
The U.S. Patent Trial and…
The U.S. Patent Trial and Appeal Board, or PTAB, ruled against ShockWave Medical (SWAV) in IPR2019-00409: Cardiovascular Systems (CSII) v. Shockwave Medical - U.S. Patent No. 8728091, Shockwave Catheter System With Energy Control. The ruling stated that "Cardiovascular Systems has shown, by a preponderance of the evidence, that claims 1-14 of patent 8,728,091 are unpatentable."
ShockWave Medical 1.7M share Secondary priced at $45.75 » 20:2206/1606/16/20
The offering priced below…
The offering priced below the last closing price of $46.10. Morgan Stanley and BofA are acting as joint book running managers for the offering.
ShockWave Medical files to sell 1.7M shares of common stock » 07:4206/1606/16/20
Morgan Stanley and BofA…
Morgan Stanley and BofA Securities are acting as joint lead book-running managers for the offering.