Thoratic Corporation (THOR) has seen promising data from its left-ventricular devices, and participation in this nascent market means THOR is set to benefit in the long term, says Steven M. Lichtman, Managing Director and Senior Analyst at Oppenheimer & Co. Inc.
“[Thoratic is] a pure play in the market to treat severe heart failure with left ventricular-assist devices, or LVAD. This is a market that is still early in its penetration,” Lichtman said. “The data for these devices have been very good in terms of demonstrating improved survival for patients.”
Lichtman sees this market having a long runway for the next five-plus years. This expectation, coupled with the unique pressure that’s currently on the more mature medical device market, makes Thoratic a promising play, Lichtman says.
“We think it’s a good market…over the long term, but in the near term, we think expectations have come down for Thoratec and we recommend investors buy shares at current levels,” Lichtman said.
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