Sunshine Heart Coverage Initiated by Analysts at Benchmark Co. (SSH)
Benchmark Co. began coverage on shares of Sunshine Heart (NYSE:SSH) in a research note issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $16.00 price target on the stock. Benchmark Co.’s price objective would suggest a potential upside of 38.17% from the stock’s previous close.
The analysts wrote, “We are initiating coverage of Sunshine Heart with a Speculative Buy rating and Price Target of $16. The company’s C-Pulse Heart Assist system is surgically wrapped around the aorta and provides circulatory support from outside the blood stream which avoids anticoagulation needs. The device has been approved in Europe and is in a pivotal trial in the U.S. and a post-market study in Europe, which will provide the only meaningful revenues through 2015. The device targets patients with Class III heart failure, or patients healthier than those treated by the LVAD market currently approaching a $400 million market in the U.S., and who are often beyond the benefits of drug or CRT therapy. We expect U.S. commercial sales to begin in late 2017, and thus drive our EV/Sales price target of $15 on 2018 revenues of $37 million which we blend with our $18 DCF price target to arrive at our $16 price target which supports our Speculative Buy rating.”
Shares of Sunshine Heart (NYSE:SSH) traded up 1.30% during mid-day trading on Tuesday, hitting $11.73. The stock had a trading volume of 80,302 shares. Sunshine Heart has a one year low of $4.85 and a one year high of $13.80. The stock has a 50-day moving average of $10.73 and a 200-day moving average of $7.22. The company’s market cap is $145.3 million.
Sunshine Heart (NYSE:SSH) last released its earnings data on Wednesday, August 7th. The company reported ($0.35) earnings per share (EPS) for the quarter. Analysts expect that Sunshine Heart will post $-1.76 EPS for the current fiscal year.
Separately, analysts at Oppenheimer initiated coverage on shares of Sunshine Heart (NYSE:SSH) in a research note to investors on Wednesday, July 10th. They set an “outperform” rating and a $11.00 price target on the stock. Five analysts have rated the stock with a buy rating, Sunshine Heart presently has an average rating of “Buy” and a consensus price target of $13.17.
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