Wells says clinical trial update suggests Penumbra THUNDER trial hit target

Wells Fargo notes that Clinicaltrials.gov lists Penumbra’s (PEN) THUNDER trial as having reduced the total enrollment number to 216 from 275 as of October 16, so when Penumbra announced completion of patient enrollment in the study on October 14, the company may have been aware of the study’s primary outcome given that the lower patient number suggests that THUNDER met its endpoint(s). THUNDER is a single arm trial evaluating Penumbra’s Thunderbolt computer aided vacuum thrombectomy, or CAVT, device for the treatment of ischemic stroke and the company’s commentary in the October 14 press release “suggests to us that the trial will be positive,” added the analyst, who has an Equal Weight rating and $150 price target on Penumbra shares.