AngioDynamics upgraded to Outperform from Perform at Oppenheimer

Oppenheimer upgraded AngioDynamics to Outperform from Perform with a $12 price target following Thursday’s earlier than expected FDA approval expanding the company’s AlphaVac indication to treat pulmonary embolism. Competition in AngioDynamics’s core market remains stiff and ongoing gross margin expansion efforts will take time to hit the P&L, but AlphaVac is now a new driver, and the firm sees additional upside opportunities including NanoKnife indication expansion and Auryon potential in deep vein thrombosis.