AtriCure having success in executing its plan, says Piper Jaffray

After AtriCure this morning announced completion of enrollment for Converge, Piper Jaffray analyst Matt O’Brien says the trial should “meaningfully drive awareness for stand-alone a-fib procedures.” The analyst adds the timing for completing enrollment is in line with expectations and that he’s encouraged by the success AtriCure is having in executing its plan. The analyst says that despite the stock’s rally year-to-date, shares of AtriCure trade at a “reasonable” valuation. He sees the company’s growth story accelerating in 2020 and beyond. O’Brien has an Overweight rating on the name with a $36 price target.
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