ShockWave Medical price target raised to $335 from $210 at Wells Fargo

Wells Fargo raised the firm’s price target on ShockWave Medical to $335 from $210 and keeps an Equal Weight rating on the shares following quarterly results. The firm notes sales of $219M exceeded its prior estimate by about $9M, with larger part of the beat driven by coronary and outside U.S. Gross margin of 87.1% was about in-line and opex of $148.2M was also in-line with Wells’ estimates.