William Blair analyst Brandon Vazquez has maintained their bullish stance on PEN stock, giving a Buy rating on July 16.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Brandon Vazquez has given his Buy rating due to a combination of factors that highlight Penumbra’s strategic positioning and potential for growth. One of the key elements is the anticipated launch of the Thunderbolt system, which, despite not yet being approved, is expected to become a significant growth driver for the company. Vazquez notes that while the stroke market is limited by the number of patients available for thrombectomy, the Thunderbolt system is poised to capture market share from competitors, indicating a promising outlook for Penumbra.
Additionally, Vazquez points out Penumbra’s proactive approach in addressing the challenges associated with distal occlusions. The company’s efforts to demonstrate the safety and efficacy of their aspiration technology, particularly Red 43, in comparison to stent retrievers, positions them as a leader in innovation. This commitment to advancing medical solutions and addressing physician concerns underscores Penumbra’s potential to maintain a strong market presence and drive future growth.
Vazquez covers the Healthcare sector, focusing on stocks such as Neogen, Elanco Animal Health, and PROCEPT BioRobotics. According to TipRanks, Vazquez has an average return of 3.2% and a 48.39% success rate on recommended stocks.
In another report released on July 16, Robert W. Baird also maintained a Buy rating on the stock with a $283.00 price target.