ShockWave Medical price target raised to $275 from $235 at BofA

BofA raised the firm’s price target on ShockWave Medical to $275 from $235 and keeps a Buy rating on the shares after CMS issued its proposed rule for 2024 inpatient payment rates, which included proposing to establish brand new IVL specific codes. The positive update for Shockwave Medical and inpatient IVL coronary will see new codes pay roughly $4,000 more than prior, said the analyst, who calls this inpatient update "a very clear sign that CMS sees incremental value for IVL."