TransMedics initiated with an Overweight at Piper Sandler

Piper Sandler analyst Matt O’Brien initiated coverage of TransMedics with an Overweight rating and $95 price target. The analyst believes the company is changing the organ transplant market with proprietary organ preservation technologies and wholly-owned transport services. TransMedics’ patented devices better preserve organs while its logistical network beats the outdated models, the analyst tells investors in a research note. The firm believes the company is building a “sizable moat around its business” with these transport services, which will “elevate its value in the coming years.”