UPDATE: BTIG Research Downgrades Abiomed As FDA Overhang Is Gone

In a report published Monday, BTIG Research analyst Sean Lavin downgraded the rating on Abiomed, Inc. (NASDAQ: ABMD) from Buy to Neutral.

In the report, BTIG Research noted, “We feel shares will trade in the $34-36 range a year from now. We do not see another 15% of upside and move to Neutral though we are clearly not negative. We have always said that as the risks resolved ABMD would trade around 6x rev and it now does.”

Abiomed closed on Friday at $32.79.