William Blair analyst Brandon Vazquez has maintained their bullish stance on PEN stock, giving a Buy rating on October 15.
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Brandon Vazquez has given his Buy rating due to a combination of factors that highlight Penumbra’s promising growth prospects. The upcoming STORM-PE trial, which evaluates the effectiveness of Penumbra’s Lightning Flash technology against traditional anticoagulation in treating intermediate-high risk pulmonary embolism patients, is a significant factor. The trial’s potential to influence clinical guidelines and hospital adoption could lead to increased utilization of Penumbra’s products, thereby enhancing their market share.
Moreover, insights from experts like Dr. Adham Karim, who has extensive experience with Penumbra’s products, provide valuable perspectives on the company’s growth trajectory. His involvement in the trial and his frontline experience with patient outcomes and procedural considerations reinforce the potential impact of Penumbra’s innovations in the medical field. These elements collectively support Vazquez’s optimistic outlook on Penumbra’s future performance, justifying the Buy rating.
In another report released on October 15, Truist Financial also maintained a Buy rating on the stock with a $300.00 price target.