Anteris Technologies price target lowered to $15 from $20 at Lake Street

Lake Street analyst Frank Takkinen lowered the firm’s price target on Anteris Technologies (AVR) to $15 from $20 and keeps a Buy rating on the shares. $320M in gross financing, which included a $90M strategic investment from Medtronic (MDT), was “a transformational deal for Anteris,” says the analyst, who reduced the firm’s target on the dilutive impact of the financing. However, the financing “relieves the capital overhang, verifies the product’s viability, and entrenches Medtronic as a collaborator and potential acquirer,” the analyst tells investors.

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