J.P. Morgan Underweight On Edwards Lifesciences

J.P. Morgan Chase & Co. is out with a research report on Edwards Lifesciences EW, and it has an Underweight rating and a $78 price target on shares. In a note to clients, J.P. Morgan Chase & Co. writes, "Wednesday after the close, the FDA's Circulatory System Devices panel voted in favor of approval for Edwards's Sapien transcatheter valve for the treatment of inoperable patients with severe symptomatic aortic stenosis. We expect this to clear the way for a US launch of Sapien later this year." Shares of EW lost $2.12 yesterday to close at $87.53, a loss of 2.36%.