Abbott Mitraclip data a ‘grand slam,’ says Cowen

Abbott Mitraclip data a ‘grand slam,’ says Cowen. Cowen analyst Joshua Jennings said the Abbott trial results meaningfully outperformed skeptical consensus expectations with Mitraclip generating statistically significant decreases in the rates of both heart failure hospitalizations and all-cause mortality. The analyst said the results are so strong that COAPT now represents a landmark study for functional mitral regurgitation and reemphasizes Abbott’s leadership in TMV repair. Jennings reiterated his Outperform rating and $72 price target on Abbott shares.

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