Medical Device Provider Silk Road Pioneers Innovative Stroke Prevention Method: Analyst
Portfolio Pulse from Vandana Singh
Oppenheimer has initiated coverage on Silk Road Medical Inc (NASDAQ:SILK) with an Outperform rating and a price target of $30. Silk Road Medical has pioneered the Transcarotid Artery Revascularization (TCAR) method for stroke prevention, leading to impressive revenue growth. However, a CMS proposal for equal reimbursement for TCAR and another method has led to a revision in SILK's projections. The company's shares are up 3.33% at $19.22.
September 06, 2023 | 6:52 pm
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Silk Road Medical's pioneering TCAR method for stroke prevention has led to impressive revenue growth. However, a CMS proposal for equal reimbursement for TCAR and another method has led to a revision in SILK's projections.
Silk Road Medical's innovative TCAR method has led to significant revenue growth, capturing about 15% of the market. However, a CMS proposal for equal reimbursement for TCAR and another method has led to a revision in SILK's projections. Despite this, analysts believe that the impact will be short-lived and the company's longer-term potential remains promising. This positive outlook is reflected in the company's stock price, which is up 3.33%.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100