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They told investors in a note that the company’s Transcatheter Tricuspid is an exciting opportunity on the horizon for the company.
Analysts explained that one of the reasons for the rating change is the stock’s risk-reward profile being attractive at current levels, although they are certainly “not trying to predict the bottom.”
In addition, “GLP-1 fears vis-à-vis structural heart are misplaced, at least in the short-medium term,” analysts wrote. “Investors should worry more about SGLT-2 inhibitors and drugs like Entresto slowing down patient referrals.”
Oppenheimer believes the Transcatheter Tricuspid Valve Replacement (TTVR) represents a $6 billion or more opportunity for EW “and EVOQUE, a significant first-mover advantage.”
While Oppenheimer is positive on the stock, there was some negative news for the company Tuesday morning after reports stated EW was raided by EU antitrust regulators at one of its facilities in the region a week ago.
Citing two people with direct knowledge of the matter, Reuters said the move highlights increasing regulatory scrutiny of the pharmaceutical industry. The publication added that the European Commission said on September 19 that it raided a cardiovascular medical device company due to concerns it may have abused its market power in breach of the bloc’s antitrust rules.
