EnteroMedics price target raised to $3 from $1.50 at Canaccord

theflyonthewall.com

Canaccord said the FDA panel meeting for EnteroMedics' Maestro device is now expected late Q4 2013, or more likely Q1 2014. The firm believes a positive panel result is likely given the relative safety of the device, lack of alternatives for obese patients, and moderate weight loss. The firm views risk/reward as favorable and raised its price target to $3 from $1.50 and reiterates its Buy rating.

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