aegis recommendation Aegis has upgraded Ventracor's...

aegis recommendation Aegis has upgraded Ventracor's recommendation to a Buy with a 12 month Target of $1.39. In the report, Aegis noted:

"...the company has progressed its European trial and commenced implants in its first US pilot trial."

"VCR has also fully resolved its patent litigation with HeartWare, removing a major management distraction."

"We believe VCR's share price slide has gone too far and expect renewed investor interest in the stock by the end of this quarter as the CE Mark trial nears its patient completion milestone."

"VCR's favourable aspects include excellent technology, a capable CEO and management team, respected cardiac advocates, a large market with unmet need and a clear path to market."

"Although market risks remain,....we now hold a cautiously bullish bias on VCR."