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TransMedics price target raised to $150 from $130 at Oppenheimer

Oppenheimer raised the firm’s price target on TransMedics (TMDX) to $150 from $130 and keeps an Outperform rating on the shares. The firm notes that on June 2, OrganOx’s metra device had the “air transport” warning removed from its label. While this was largely expected, Oppenheimer did not identify the approval order on the FDA website until a client brought it to its attention yesterday. OrganOx continues to garner positive press from the OPO — Organ Procurement Organization — community, although the firm’s field checks on outcomes with metra continue to be relatively mixed. Oppenheimer’s view remains that metra should gain DCD liver share, not necessarily due to superior outcomes than TransMedics, but more so due to the frayed relationship between TransMedics and the OPO’s. TransMedics, to its credit, seems to be holding up reasonably well, as seen from the firm’s monthly tracker, Oppenheimer argues.

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