Boston Scientific (BSX) is making its third attempt at the Transcatheter Aortic Valve Replacement market with its $1.5 billion investment in MiRus, Needham said in a note Monday.

Earlier, Boston said it secured a 34% stake in MiRus that focuses on cardiovascular and orthopedic diseases treatment, including the SIEGEL Balloon Expandable TVAR system.

"We believe that BSX's third attempt with TAVR could prove

successful and enable it to capture meaningful market share if the STAR trial meets its endpoints and SIEGEL's differentiated design and features resonate with physicians," the note said.

LOTUS TAVR and ACURATE TAVR were removed from the market after each had various issues, the report added.

"Importantly, the deal's structure limits BSX's risk to its initial $1.5B investment," the report said.

Needham reiterated its buy rating with a $77 price target.

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