HeartWare International, Inc. (HTWR)

[cjgaddy]

9-29-11 Canaccord reits BUY in prep. for Oct2 EACTS’11 HVAD Data Update

9-29-11: ”Canaccord Genuity Maintains a 'Buy' on Heartware Intl (HTWR); HVAD Data Update This Weekend [Oct2 EACTS’11/Lisbon] Could be Positive Catalyst”

Canaccord Genuity maintains a 'Buy' on Heartware Intl (NASDAQ: HTWR) price target of $101.
Canaccord analyst, Jason R. Mills, said, "When updated HVAD data is presented Sunday [Oct2] at EACTS in Lisbon, we expect data will show device exchange (DE) rates via thrombus have fallen relative to ISHLT data in April, when HTWR and trial investigators counseled physicians to administer a daily 325mg dose of aspirin in the wake of telling sub-segment analysis. Based on our due diligence, we estimate DE rates for ongoing HVAD patients since March 14 will come within an acceptable/competitive 2-5% range. Thus, we recommend adding to positions ahead of this data release and reiterate our target of $101 (4.5x EV/2014E sales of $400M discounted back at 17.5%."
http://www.streetinsider.com/Analyst+Comments/Canaccord+Genuity+Maintains+a+Buy+on+Heartware+Intl+%28HTWR%29%3B+HVAD+Data+Update+This+Weekend+Could+be+Positive+Catalyst/6819409.html