Merit Medical price target raised to $115 from $114 at Barrington

Barrington raised the firm’s price target on Merit Medical (MMSI) to $115 from $114 and keeps an Outperform rating on the shares following the recent U.S. approval and commercialization of the company’s Wrapsody cell-impermeable endoprosthesis. While the commercial launch is in its first month and there remains many unknowns including whether the device will be able to secure add-on payments, management did provide some important and incremental information, the analyst tells investors in a research note. The firm sees the potential for the device as “significant.”