Seeking Alpha

Canaccord sticking with "own both" strategy in LVAD duopoly amid thrombosis risk

  • Canaccord isn't overly concerned about the effect two manuscripts published in the NEJM and JHLT are likely to have on the outlook for shares of Thoratec (THOR) and HeartWare (HTWR).
  • "Our initial thought is 'we are not surprised,'" writes analyst Jason Mills, who adds that Cannacord "reported on a perceived increase in HM2 device exchanges via thrombus approximately two years ago."
  • Mills says he wouldn't be surprised to see near-term weakness in THOR and strength in HTWR but notes that "the totality of data on both of these devices suggest they are both excellent solutions for end-stage heart failure patients in need of LV support relative to the alternatives, of which there are virtually none."
  • Finally, Canaccord thinks the manuscripts may help to "offset the negative view of HTWR in some investors’ minds as a result of the higher stroke rates reported in the IFUs for HTWR's HVAD upon the FDA approval in November 2012."
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