Merit Medical price target raised to $128 from $127 at Canaccord

Canaccord raised the firm’s price target on Merit Medical (MMSI) to $128 from $127 and keeps a Buy rating on the shares. The company hosted its WRAPSODY investor conference call, where the company outlined its first PMA product’s differentiated technology, clinical validation, commercial strategy, and most importantly, the market opportunity, reimbursement pathways, and financial implication of the WRAPSODY Cell-Impermeable Endoprosthesis (CIE). Management outlined its belief that clinical data from both of the company’s studies, WRAPSODY FIRST and WRAPSODY WAVE, establish clinical evidence that supports WRAPSODY’s superiority over competitive products,