Leerink Partners Cuts Price Target on Imprivata (IMPR) Following 3Q Pre-Announcement

Leerink Partners maintained an Outperform rating on Imprivata (NYSE: IMPR), and cut the price target to $20.00 (from $23.00), following pre-announced 3Q15 results. Revenues are now expected be $28.9-29.2m vs. prior guidance of $31-31.5m, a decrease of 7%. Non-GAAP EPS are seen at ($0.23) to ($0.22) vs. prior guidance of ($0.22) to ($0.20).

Analyst Steven Wardell commented, "After the close today Imprivata negatively pre-announced 3Q15 results stating that revenues are now expected be $28.9-29.2m vs. prior guidance of $31-31.5m, a decrease of 7%. Non-GAAP EPS are seen at ($0.23) to ($0.22) vs. prior guidance of ($0.22) to ($0.20). We reduce our estimates and lower our price target from $23 to $20, but remain Outperform based on strong market demand and Imprivata's market positioning."

For an analyst ratings summary and ratings history on Imprivata click here. For more ratings news on Imprivata click here.

Shares of Imprivata closed at $17.31 yesterday.

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