Inari Medical initiated with a Market Perform at Leerink

Leerink initiated coverage of Inari Medical (NARI) with a Market Perform rating and $47 price target. Inari has a portfolio of commercial products and helped pioneer the use of mechanical thrombectomy in venous thromboembolism, which includes deep vein thrombosis and pulmonary embolism, the analyst tells investors in a research note. The firm says that with mechanical thrombectomy “still in the early stages of adoption more broadly,” Inari’s near-term growth in venous thromboembolism “currently remains relatively sensitive to ongoing competitive dynamics.” It expects Penumbra (PEN) to continue capturing additional market share from Inari Medical.