AtriCure Inc. (ATRC) PT Raised to $64 at Needham

Needham analyst Mike Matson raised the price target on AtriCure Inc. (NASDAQ: ATRC) to $64.00 (from $45.00) while maintaining a Buy rating.

The analyst commented: 'ATRC's BoxX-NoAF randomized controlled trial (RCT) is evaluating whether concomitant use of ATRC's EnCompass and AtriClip (known as the BoxX procedure) in cardiac surgery can reduce the rate of post-operative atrial fibrillation (POAF) at 30 days and improve long-term freedom from AF at three years. The trial is expected to be fully enrolled by the end of 2026 and 30-day data should be released in 1H27. A meta-analysis of trials evaluating prophylactic concomitant cardiac ablation (summarized in this note) showed a meaningful reduction in POAF and gives us confidence in the BoxX-NoAF trial results. We expect positive BoxX-NoAF results to lead to expanded indications and guideline changes that triple the TAM for EnCompass and AtriClip. We reiterate our Buy rating and raise our price target to $64 from $45 due to peer multiple expansion."

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