Merit Medical price target raised to $110 from $100 at Piper Sandler

Piper Sandler analyst Jason Bednar raised the firm’s price target on Merit Medical to $110 from $100 and keeps an Overweight rating on the shares ahead of the Cardiovascular and Interventional Radiological Society of Europe. The firm believes the evidence to date suggests the company’s WRAPSODY will be clinically superior to current standard of care, which should de-risk the U.S. regulatory process; provide for a compelling share conversion argument; and open the reimbursement discussion to being potentially superior to what’s currently established.