Posts for Ticker ‘CRDC’

Cardica Adding U.S. to E.U. & Japan Sales (CRDC)

Cardica_logoA usually quiet Cardica, Inc. (NASDAQ: CRDC) is seeing a huge move in its stock today on strong upside volume.  The company has won FDA marketing approval to sell its PAS-Port Proximal Anastomosis System for use in cardiac bypass surgery. Normally stocks do not run up this much on the actual FDA approvals, but this one had been sold off and was already well off of recent highs.

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Posted on: September 9, 2008 – 9:35 am in FDA, Medical,

Cardica Trumps Wall St.

Shares in Cardica (CRDC) fell of a cliff yesterday as an A.G. Edwards analyst downgraded the stock on muted enthusiasm for its new surgical product. The fellow must feel a bit embarrassed today.

CRDC shares are up over 20% today on news the company "received a key European approval for its new device for connecting blood vessels during heart bypass surgery," according to The Associated Press.

So there.

Douglas A. McIntyre

Posted on: September 12, 2007 – 8:44 am in Medical,

A True Believer Walks Out On Cardica

Medical device market Cardica (CRDC) hit a all-time high last Wednesday as a group of surgeons "successfully used its automated system during coronary artery bypass operations." It was not hundreds of surgeons in various locations. It was just two teams. One in Nashville and one in Richmond.

But, the shares jumped to $12.04, almost 3x their 52-week low. The company’s market cap got to almost $200 million. CRDC lost $12.1 million last year on $2 million in revenue.

This morning, A.G. Edwards & Sons Inc. downgraded the shares from "buy" to "sell" "saying the company’s positive update last week was overblown on Wall Street," according to The Associated Press.

The analyst, probably with good reason, thinks that doctors will want to see more than a couple of operations. The stock is down 13% today to $8.60.

Douglas A. McIntyre

Posted on: September 10, 2007 – 11:49 am in Medical,