Thoratec Corporation (NASDAQ:THOR) expects to have a busy year in 2015, one that is also expected to help the company accelerate its market growth. Various clinical trials are lined up for the year, and the management is hopeful that it will deliver success across board. For 4Q, Thoratec posted better earnings than the consensus estimate.
Where do analyst foresee upcoming resistance in THOR?
Thoratec Corporation (NASDAQ:THOR) updated on the recruitment of 50 patients for the study of HeartMate III at 10 sites across Canada, Australia and Europe. The company will be able to monitor the patients enrolled in the study for a period of six months ending May this year. Positive clinical data from the study of HeartMate III and subsequent approval of the product in Europe is expected to have significant positive impact on Thoratec’s financial performance.
U.S. trial
Thoratec also plans to launch the study of HeartMate III in the U.S., where it has already enrolled 26 patients and expects to enroll more in 2Q. The patient recruitment for HeartMate III study in the U.S. began in 2014 under a conditional approval by the FDA. The company expects to cover six trials sites in the U.S.
Analysts have cited that Thoratec has very promising product candidates with significant top-line and margins potential.
4Q Earnings
Thoratec Corporation (NASDAQ:THOR) posted adjusted earnings of $0.20 a share, beating the consensus estimate by $0.09. However, revenue remained flat at $128 million, mostly impact by tepid sales in key markets and currency translation. Nonetheless, the revenue figure blew $106 million that analysts were seeking for the quarter.
Guidance
Thoratec Corporation (NASDAQ:THOR) forecast fiscal 2015 revenue between $450 and $460 million, taking into account fewer weeks in 2015 than 2014 and impact of currency translation.
Technicals
Thoratec Corporation (NASDAQ:THOR) is one of the most volatile stocks as clearly evident from the long term chart. It has traded mainly in the range of $22-$42 in the last few years, with lower highs keeping a bit of weakness inherent in the structure. The latest rally approaches a very strong resistance area now, in the price band of $42-$44. The steep angle of the rally keeps it vulnerable to a bout of profit booking and a phase of correction may begin.
