Shockwave Medical, Inc. ( SWAV ) shares are trading higher Tuesday following a report suggesting Johnson & Johnson ( JNJ ) is in talks to acquire the company.

The Details:

According to a report from the Wall Street Journal, people familiar with the matter say that a deal to acquire the company could be completed in the coming weeks. 

Shockwave Medical ( SWAV ) shares have gained more than 65% year-to-date, and the company has a market value of nearly $11 billion. 

Shockwave is a medical device company focused on developing and commercializing novel technologies for patients with cardiovascular disease.

According to data from Benzinga Pro, shares are trading well-above the stock’s 50-day moving average of $247.73 and set a new intraday 52-week week high of $326.85 Tuesday. 

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Will SWAV Stock Go Up?

When trying to assess whether or not Shockwave Medical ( SWAV ) will trade higher from current levels, it's a good idea to take a look at analyst forecasts.

Wall Street analysts have an average 12-month price target of $262 on Shockwave Medical ( SWAV ). The Street high target is currently at $290 and the Street low target is $210. Of all the analysts covering Shockwave Medical ( SWAV ), 2 have positive ratings, one has neutral ratings and no one has negative ratings.

In the last month, no analysts have adjusted price targets. Here's a look at recent price target changes [Analyst Ratings]. Benzinga also tracks Wall Street's most accurate analysts. Check out how analysts covering Shockwave Medical ( SWAV ) have performed in recent history.

For a broad overview of everything you need to know about Shockwave Medical ( SWAV ), visit here. If you want to go above and beyond, there's no better tool to help you do just that than Benzinga Pro. Start your free trial today.

SWAV Price Action: According to Benzinga Pro, Shockwave Medical ( SWAV ) shares are up 9.7% at $315.15 at the time of publication Monday.

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