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Fly News Breaks for March 18, 2019
APEN
Mar 18, 2019 | 13:13 EDT
Piper Jaffray analyst JP McKim noted that Apollo Endosurgery reported Q4 sales and gave 2019 guidance that were both relatively in-line with estimates, but he believes the fact that OverStitch sales outperformed expectations is more important than the decline in balloon sales. While the early feedback from the alpha launch was positive, McKim believes Apollo will need to show execution on SX sales before seeing its multiple expand. He keeps an Overweight rating and $5.50 price target on Apollo Endosurgery.
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