Stock Update (NASDAQ:SSH): Sunshine Heart Inc Announces OPTIONS HF Clinical Experience
Sunshine Heart Inc (NASDAQ:SSH) announced that its C-Pulse® Heart Assist System was featured in a clinical presentation at the Heart Failure Association of the European Society of Cardiology Meeting, taking place from May 21st to May 24th in Florence, Italy.
On Saturday, May 21st, Dr. Dimitrios Georgakopoulos, Sunshine Heart’s Chief Scientific Officer, presented data collected from a European multi-center, post-market study designed to observe the clinical outcomes of heart failure patients treated with C-Pulse. The data demonstrated improvements in quality of life, functional capacity and cardiac remodeling with a favorable safety profile. No patients experienced stroke or sepsis, and the driveline infection rate was 13.3% (two patients out of the fifteen participating in the study). The data showed significant increase in Left Ventricular Ejection Fraction and significant reduction in Left Ventricular End Systolic Volume. The data also showed a trend downward in Left Ventricular End Diastolic Volume. These three commensurate data points have been shown to correlate with an 80% likelihood of improvement in outcomes based on the meta-analysis of several large trials studying systolic heart failure patients.¹
Sunshine Heart is excited about its recently announced clinical results especially the latest data showing the neuromodulation effect of C-Pulse. Sunshine Heart will continue to pursue additional data in a short term study that will help clarify the path forward to the fully implantable system and a larger market potential. (Original Source)
Shares of Sunshine Heart are up 2.60% to $0.79 in pre-market trading. SSH has a 1-year high of $4.45 and a 1-year low of $0.56. The stock’s 50-day moving average is $0.71 and its 200-day moving average is $1.09.
On the ratings front, Sunshine Heart has been the subject of a number of recent research reports. In a report issued on March 4, Canaccord Genuity analyst Jason Mills reiterated a Buy rating on SSH. Separately, on the same day, Piper Jaffray’s Thomas Gunderson maintained a Buy rating on the stock and has a price target of $4.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Jason Mills and Thomas Gunderson have a total average return of -5.2% and 0.5% respectively. Mills has a success rate of 45.4% and is ranked #3663 out of 3842 analysts, while Gunderson has a success rate of 46.9% and is ranked #2055.