Penumbra, the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Travis Steed from Bank of America Securities maintained a Buy rating on the stock and has a $320.00 price target.
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Travis Steed has given his Buy rating due to a combination of factors that suggest a positive outlook for Penumbra. The ongoing STORM PE trial, which focuses on pulmonary embolism treatment, has shown promising potential in improving long-term patient outcomes, particularly with the use of thrombectomy. The trial’s primary endpoint, the RV/LV ratio, is seen as an important indicator of treatment efficacy, and there is optimism about the secondary endpoints, such as the 6-minute walk test and quality of life assessments, achieving statistical significance.
Additionally, the market for pulmonary embolism treatments has been expanding, with a 30% increase in cases reported by a leading medical practice group. This growth, combined with the potential shift towards thrombectomy if the STORM PE data are positive, positions Penumbra well in the market. Despite competition, Penumbra’s technology, particularly its computer-assisted aspiration, is recognized for its effectiveness, supporting the Buy rating as the company is poised for growth in a burgeoning market.
In another report released on September 18, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $286.00 price target.