Placeholder canvas
Wednesday, April 17, 2024
HomeBusinessOppenheimer: Edwards upgraded to outperform due to TTVR potential (EW)

Oppenheimer: Edwards upgraded to outperform due to TTVR potential (EW)

Investment bank Oppenheimer has upgraded Edwards LifeSciences to outperform, citing the transcatheter tricuspid market as an “exciting” opportunity for the company. The bank also dismissed concerns about the impact of GLP-1 drugs on structural heart products, stating that worries should be focused on SGLT-1 inhibitors and Entresto slowing patient referrals. Oppenheimer sees Transcatheter Tricuspid Valve Replacement (TTVR) as a $6 billion-plus market opportunity for Edwards, with its product Evoque possessing a significant first-mover advantage. The bank’s upgrade is based on its positive outlook for the TRISCEND-II clinical trial for Evoque, as well as the potential for EU and US market applications, and it has set a price target of $90 for the stock.

In summary, Oppenheimer believes that Edwards LifeSciences has strong prospects in the transcatheter tricuspid market and discounted concerns about GLP-1 drugs. The bank sees TTVR as a lucrative opportunity for the company, with Evoque enjoying a first-mover advantage. The upgrade was triggered by positive expectations for the TRISCEND-II clinical trial and the potential expansion into EU and US markets, with Oppenheimer setting a price target of $90 for the stock.

Source link

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Recent Comments