Benchmark Reiterates Buy on ICU Medical

Benchmark reiterates a Buy rating on ICU Medical (NASDAQ: ICUI) and a price target of $60.

Benchmark comments, “ICU Medical and Mobius Therapeutics jointly announced that ICUI's ChemoClave system for the safe handling of hazardous drugs will be packaged with Mobius Therapeutics Mitosol kit. We view this announcement positively as we estimate that the Oncology Products division can generate revenue growth in excess of 20% in both 2012 and 2013. This could help expand the market to include hazardous drugs outside of the chemotherapy market. Separately, ICU Medical recently has announced three clinical studies/case studies that involved their products.”

ICUI closed at $51.08 yesterday.