Penumbra price target raised to $270 from $240 at BTIG

BTIG analyst Ryan Zimmerman raised the firm’s price target on Penumbra PEN) to $270 from $240 and keeps a Buy rating on the shares. Commentary from a key opinion leader Dr. Meisinger – a board-certified interventional radiologist and the Director of the Independent and Interventional Radiology Residencies at the UC San Diego Department of Radiology – indicated that he expects to switch nearly 100% of his share to the company’s Lightning Flash in DVT cases while usage in PE will be more balanced between both Penumbra and Inari Medical (NARI), the analyst tells investors in a research note. BTIG further states that Dr. Meisinger had a difficult time getting access to Lightning Flash catheters initially due to inventory shortage.