Piper Jaffray Reiterates Overweight on Edwards Lifesciences

Piper Jaffray reiterated its Overweight rating on Edwards Lifesciences EW after attending the Transcatheter Valve Therapies meeting. In a research report published today, Piper Jaffray states, "We expect FDA approval of EW's transcatheter valve system yet this year (mid-October is our point estimate). Despite more balanced clinical data, our view from the TVT meeting is that transcatheter valves are still going strong in Europe, demand in the US even for the initial indications will be high, and the development of a strong new medtech business continues unabated." At the moment, Piper Jaffray has a price target of $94 placed on the company's stock. On Wednesday, Edwards Lifesciences lost 0.61% of its value to close the day at $85.94.