Penumbra (PEN – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Kallum Titchmarsh from Morgan Stanley maintained a Hold rating on the stock and has a $260.00 price target.
Kallum Titchmarsh has given his Hold rating due to a combination of factors surrounding Penumbra’s upcoming Thunderbolt product and the anticipated THUNDER trial data. While there is considerable excitement among investors about the potential impact of Thunderbolt, the product is not expected to reach the market until the latter half of 2025. This delay, coupled with the uncertainty surrounding the trial outcomes, contributes to a cautious outlook.
Moreover, feedback from endovascular neurosurgeons suggests that while there is interest in new aspiration technologies, the efficacy of Thunderbolt, particularly in terms of the first pass effect, remains a critical consideration. The potential for a modest price increase is not seen as a significant barrier if the product demonstrates clear advantages over existing options. These mixed signals from the medical community and the timeline for market entry underpin the Hold rating.
Titchmarsh covers the Healthcare sector, focusing on stocks such as Globus Medical, Penumbra, and Irhythm Technologies. According to TipRanks, Titchmarsh has an average return of -4.2% and a 43.59% success rate on recommended stocks.