The Globe and Mail reports in its Friday, April 9, edition that Raymond James analyst Rahul Sarugaser is holding firm on his "outperform" recommendation for Opsens. The Globe's David Leeder writes in the Eye On Equities column that Mr. Sarugaser elevated his share target by 25 cents to $2.75. Analysts on average target the shares at $2.63. Mr. Sarugaser welcomes Opsens's contract with Vizient as a catalyst, which he says he has been waiting for. On Wednesday, Opsens announced an "Innovative Technology contract" with the largest medical group purchasing organization in the U.S. The Globe notes that the agreement provides access to its OptoWire III device for the diagnosis and treatment of coronary disease. Mr. Sarugaser says in a note: "We have been waiting for GPO contracts like these to drive OptoWire's U.S. market share capture, and OPS has delivered. We believe signing a contract with Vizient, in particular, should be major accelerant in the adoption of OPS's core OptoWire technology, which already drives 60 per cent of OPS's revenue (FY20) and has been used to treat 100,000 patients globally. Revenue impact from the Vizient contract we expect to begin during 4Q21 and ramp steadily thereafter."
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