UPDATE: Oppenheimer Initiates Coverage on InspireMD on Novel Solution for STEMI

In a report published Tuesday, Oppenheimer analyst Steven Lichtman initiated coverage on InspireMD (NYSE: NSPR) with an Outperform rating and $6.00 price target.

In the report, Oppenheimer noted, “We are initiating coverage of InspireMD, Inc. with an Outperform rating and $6 price target. We view InspireMD's proprietary, CE Mark approved MGuard Embolic Protection Stent (EPS) as a novel and potentially disruptive technology for the treatment of ST Elevation Myocardial Infarction (severe heart attacks, or STEMI). MGuard's US pivotal trial is currently enrolling and we anticipate FDA approval in late 2016. In the interim, we look for recently presented positive 12-month follow-up data from the randomized MASTER trial to drive meaningful sales growth internationally. Key pipeline opportunities such as MGuard Carotid and drug-eluting MGuard represent potential upside to our model.”

InspireMD closed on Monday at $2.55.