UPDATE: Piper Jaffray Reiterates on LDR Holding Following Solid Top- and Bottom-Line Beat

In a report published Thursday, Piper Jaffray analyst Matt Miksic reiterated an Overweight rating on LDR Holding (NASDAQ: LDRH), and raised the price target from $26.00 to $27.00. In the report, Piper Jaffray noted, “After successfully completing its IPO on October 8, management delivered a very nice beat out of the gate, coming in ahead of expectations on sales and pro forma EPS (excluding a non-cash warrant revaluation charge.) The company's high value, high growth Exclusive Spine segment drove the upside, coming in $3 mil better than our estimate, and representing 84% of revenues in the quarter. Management indicated that training and early results from the Mobi-C launch are encouraging, but stopped short of providing specific details or expectations. While Mobi-C clearly contributed to the beat, the product launch was underway for only the last few weeks of the quarter, so we suspect most of the upside this quarter was driven by the company's VerteBridge platform. We reiterate our Overweight rating on LDRH, upping our target from $26 to $27, and remain buyers of the stock at current levels.” LDR Holding closed on Wednesday at $21.06.