FDA review extension of Nuvectra’s PMA application expected, says Piper Jaffray

Piper Jaffray analyst Matt O’Brien kept his Overweight rating and $25 price target on Nuvectra, saying the 180-day extension of its PMA application for Virtis by the FDA is not surprising in the wake of U.S. government shutdown. While the timing of the extension is uncertain, the analyst believes that the decision will come by the end of Q1. O’Brien also cites the FDA not identifying any deficiencies or requesting any further detail on the product, which he sees as a “positive signal”.

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