Cowen raises PT for Establishment Labs on breast implant potential

Establishment Labs Holdings

22/04/2022 13:14

** Cowen believes medtech company's  ESTA.O  breast implants
will revolutionize the global implant industry and capture a
majority share of the U.S. breast implant market
    ** Raises PT to $125 from $95, reiterates 'outperform'
rating
    ** On Thursday after market, ESTA presented two-year interim
data from study testing its Motiva breast implant, which showed
94.9% patient compliance
    ** Motiva's industry-leading safety profile was decisively
confirmed and FDA approval pathway has been fully de-risked -
Cowen
    ** Says Motiva's capsular contracture rate, a common
complication post implants, is exponentially lower than
competitors' commercially available implants which will drive
accelerated adoption rate in U.S. upon approval
    ** Five out of six brokerages covering the stock rate it
'buy' or higher, one rates 'hold'; median PT is $95
    ** Up to Thursday's close, ESTA had risen 17.28% YTD

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))