LIVN - LivaNova initiated with a buy at Goldman Sachs; sees 31% upside
Goldman Sachs has initiated LivaNova (LIVN -1.0%) with a buy rating on the potential of its pipeline to drive shares higher. The firm has a price target of $108 (~31% upside). Analyst Amit Hazan says that catalysts in 2022 and later will "drive a revaluation higher over time." The first review of data from the ANTHEM-HFrEF trial of its Vitaria implant for treating autonomic regulation therapy in symptomatic heart failure is expected in 1H 2022. The company is also continuing testing its Symmetry implantable vagus nerve stimulation device for treatment-resistant depression in the RECOVERY trial. LivaNova is hosting a virtual investor day on Dec. 7. The company recently lost a ruling in an Italian court resulting in €453M in damages.
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LivaNova initiated with a buy at Goldman Sachs; sees 31% upside