Wunderlich Securities Ups PT On ABMD To $24

Wunderlich Securities, citing Q4 revenues above expectations, has raised its price target on ABIOMED Inc. ABMD from $18 to $24 and is maintaining its Buy rating on the stock. Says Wunderlich, in its report, “Abiomed (ABMD) reported better-than-expected fiscal Q4 revenues yesterday morning, with strong Impella results again leading the way. ABMD also reported non-GAAP profitability, and generated positive cash from operations again in Q4. The reported loss per share of $0.05 was a bit larger than expected as SG&A spending jumped. Fiscal 2012 revenue guidance exceeded our prior estimate and came in above Street consensus. Bottom line, we continue to believe ABMD has just scratched the surface of the Impella opportunity and the ABMD story remains in the early innings.” ABMD closed at $17.65 yesterday.