C.L. King analyst Kristen Stewart maintains $Boston Scientific (BSX.US)$ with a buy rating, and adjusts the target price from $64 to $90.
According to TipRanks data, the analyst has a success rate of 60.6% and a total average return of 3.5% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Boston Scientific (BSX.US)$'s main analysts recently are as follows:
Boston Scientific has reported a quarter that exceeded expectations on all fronts, despite high expectations. Nonetheless, the company's shares are experiencing pressure due to the announced pause in the AVANT GUARD clinical trial, which is investigating Farapulse in a new patient segment. It is noted that this particular segment is not currently receiving treatment, there are observations under assessment, and the expectation is for enrollment to recommence shortly.
Boston Scientific's Q3 outcomes were deemed impressive, with management raising its 2024 guidance to reflect a departure from the year at +15% organic sales growth. Despite a temporary halt in an EP trial, AVANTGUARD, which led to a decrease in stock value, assessments with key opinion leaders suggest that the reaction may have been exaggerated.
Following Boston Scientific's Q3 report, it was noted that the AVANT Guard trial setback is not associated with a mortality event nor initiated by the FDA, and that momentum for Farapulse globally is expected to be sustainable over the medium term. The recent decline in Boston Scientific's share price is seen as a 'compelling' opportunity for entry.
Note:
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