Inari Medical rises after Piper Sandler starts coverage with 'overweight'

Inari Medical

21/06/2022 20:17

** Shares of medical device co Inari Medical Inc  NARI.O 
up ~5.1% at $64.02 in afternoon trading 
    ** Piper Sandler starts coverage with "overweight" rating;
Sets PT at $100, implying upside of ~64.2% to stock's last close
    ** Brokerage expects co to post robust top-line growth,
helped by a sizable total addressable market in 2022 and 2023 
    ** Expects NARI's revenue to grow ~32% this year, driven by
increased utilization and center adds, alongside new products
    ** "We believe mechanical thrombectomy is poised to become
standard of care for the treatment of VTE (venous
thromboembolism) and believe NARI is well-positioned" - Piper
Sandler
    ** Venous thromboembolism is commonly known as blood clot 
    ** All six brokerages covering the stock rate it "buy" or
higher; their median PT is $106.50 - Refinitiv 
    ** Including session's gain, NARI down ~29.9% YTD 

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com;))