peterschreiber.media
Argus has upgraded Silk Road Medical (NASDAQ:SILK) to buy, citing the company’s efforts to expand its commercial footprint.
The investment firm highlighted that Silk was expanding its sales force, extending patient coverage through broader CMS coverage, and moving into markets such as China and Japan.
Argus said the addressable market for the company’s TransCarotid Artery Revascularization, or TCAR, procedure was “large and underpenetrated,” and that the company was trying to increase TCAR utilization amongst its 2,800 trained physicians.
Argus set its price target for the stock at $24.