Piper Jaffray Reports On Edward Lifesciences' Clinical Trials

Piper Jaffray has issued a report on Edward Lifesciences' EW latest clinical trials. According to the report, "At 12-month follow-up, high risk surgical patients implanted with the Sapien valve reported an all cause mortality rate of 24.2% compared to 26.8% (p=0.001 for non-inferiority). The major stroke rate was higher in the Sapien arm at 12-months (5.1% vs. 2.4%, p=0.07) which we think is addressable with next generation, lower profile systems and better physician technique (learning curve). Bottom line, we think the overall study results are solid and the momentum for Sapien and the use of percutaneous valves will continue." EW is rated Overweight and has a $94.00 Price Target. EW closed at $86.07 on Friday.