Analyst John Calcagnini says he spoke to the company, and he thinks the stock is weak because it's not going to be on an Oct. 2 FDA panel for its Taxus stent product. Boston Scientific told him a competitor has been speculating what the restenosis rate on Taxus stent will be.
Calcagnini says Boston Scientific expects to know a panel date in the next few weeks. He continues to think it's Taxus data will be competitive with the 9% in segment restenosis reported for Johnson & Johnson's Cypher stent. Further, he says some cardiologists are disappointed with J&J, and its handling of the Cypher launch. Calcagnini is keeping his $68 target.