Movers and SHAKERS
Monday, August 10, 2020
Q2 EPS Preview: Lots of Near-Term Catalysts
As of April 24, 2020, Noble Capital Markets research on Neovasc is published under ticker symbols (NVCN and NVCN:CA). The price target is in USD and based on ticker symbol NVCN. Research reports dated prior to April 24, 2020 may not follow these guidelines and could account for a variance in the price target. Neovasc Inc is a specialty medical device company. The company develops, manufactures and markets products for the rapidly growing cardiovascular marketplace. Its products include the Tiara for the transcatheter treatment of mitral valve disease and the Neovasc Reducer for the treatment of refractory angina. Neovasc is developing the Tiara for the treatment of mitral valve disease. Neovasc operates its business in one segment.
Ahu Demir, Ph.D., Biotechnology Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Reducer EU revenues declined due to COVID-19. Neovasc reported Q2 2020 ending on June 30, 2020. The company’s lead product Reducer is marketed in the EU and achieved $284,000 in revenues. The sharp decline (-46%) was attributed to the pandemic, as Reducer implant procedures are considered elective, which were nearly ceased in March 2020 due to the COVID-19 situation. The Reducer implants picked up in June. We expect the backlog of delayed implantation to recover in the second half of 2020, assuming pandemic to remain stable.
Q2 earnings results. Total expenses were $8.9 million including 4.3 million-selling, general and administrative expenses, $4.6 million clinical trials, and product development expenses in Q2 2020. The company reported ...
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.