Piper Jaffray analyst Matt O’Brien said he understand concerns about NuVasive’s $6M Q4 revenue miss versus consensus, but he believes based on his view of the company’s “innovative products” and year-end checks indicating that the spine market is improving that the company should see “a beat-and-raise dynamic” next year. NuVasive is “still a great earnings power story” and the shares looks “very cheap” on an EV/EBITDA basis, said O’Brien, who keeps an Overweight rating on the stock with a price target of $70.
Monday, January 7, 2019
AtriCure a ‘very impressive story’ that investors should own, says Piper Jaffray
Piper Jaffray analyst Matt O’Brien reiterated an Overweight rating and $37 price target on AtriCure after the company reported preliminary Q4 results and 2019 revenue guidance above the Street. In a research note to investors, O’Brien states that he is “confident” in the set up for 2019 and that AtriCure is a very impressive story that he thinks investors should own in 2019.
https://thefly.com/landingPageNews.php?id=2844885
Medtronic down 4% after backing FY19 view, discussing FY20 at conference
https://thefly.com/landingPageNews.php?id=2844899
Cutera CEO resigns after results ‘dissatisfied’ board
Cutera Inc. CUTR, -18.24% said Monday that Chief Executive James Reinstein has resigned, effective immediately, after two years in the role. The provider of laser and energy-based aesthetic systems said it expects 2018 revenue of $161 million to $163 million, up from $151.5 million in 2017 but below the FactSet consensus of $164.5 million. “Cutera’s board takes seriously its responsibility to act on behalf of, and in the best interests of, the company’s stockholders,” Chairman Daniel Plants said in a statement. “We are dissatisfied with the company’s operational results and stock price performance in 2018. While we appreciate Mr. Reinstein’s efforts over the past two years, it’s time to seek new leadership at Cutera.” Shares of the stock had plunged 62.5% in 2018
AxoGen hit on preliminary Q4 results
AxoGen (AXGN -20.8%) is down on more than triple normal volume after its announcement of preliminary Q4 2018 and full-year results.
Q4 revenue was at least $23.4M, up 38% yoy but potentially shy of $24.2M consensus. Full-year revenue was at least $83.9M, also potentially short of $84.6M consensus.
2019 outlook: revenue growth of at least 35%. Gross margin to remain above 80%.
#JPM19
La Jolla hit after downbeat drug guidance
La Jolla Pharmaceutical Co. LJPC, -44.11% plummeted 44% in midday trade Monday to pace all Nasdaq losers, after the company provided downbeat guidance on its key drug that treats dangerously low blood pressure in adults with septic or other disruptive shock. The company said its fourth-quarter sales of Giapreza, which was launched in March 2018, rose 20% from a year ago to $4.2 million, with 2018 sales expected to reach $10.1 million. The Giapreza sales estimates of the two analysts that provided estimates to FactSet ranged from $5.2 million to $6.9 million for the fourth quarter and $11.1 million to $12.8 million for 2018. For 2019, La Jolla Pharmaceuticals said it expects Giapreza sales to rise to $24 million to $28 million, while analyst estimates ranged from $44.3 million to $55.0 million. The stock, on track for the lowest close since September 2013, has now plummeted 68% over the past three months
Biohaven announces acceptance of rimegepant IND filing in China
Biohaven Pharmaceutical and its wholly-owned Asia-Pacific subsidiary company, BioShin, announced the National Medical Products Administration, or NMPA, formerly, the China FDA, has accepted the investigational new drug, or IND, application for rimegepant, Biohaven’s lead oral calcitonin gene-related peptide, or CGRP, receptor antagonist product candidate, for the treatment of migraine. CGRP receptor antagonists represent a novel class of drug candidates for the treatment of migraine and are the first new class for the treatment of migraine in over 25 years. CGRP receptor antagonists potentially offer an alternative to current agents, particularly for patients who have contraindications to the use of triptans, such as those with underlying cardiovascular diseases, or those who have an inadequate response to standard therapies.
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