Edwards Lifesciences' (EW) Transcatheter Aortic Valve Replacement, or TAVR, evaluation in moderate aortic stenosis under the Progress study is one of the most awaited clinical trial readouts at the Transcatheter Cardiovascular Therapeutics meeting this year, Oppenheimer said in a note Wednesday.

The brokerage said that it views probability of technical success for the Progress study as "high," adding that the "clinical" need for earlier TAVR intervention in the moderate aortic stenosis plus heart failure group needs to be demonstrated.

Oppenheimer said it estimates a new moderate aortic stenosis procedure total addressable market of about 430,000 opening up in the US, adding about 150 to 300 basis points of incremental compound annual growth rate, banking on a favorable clinical readout.

Oppenheimer maintained its perform rating on the company's stock.

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