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Fly News Breaks for June 20, 2016
DXCM
Jun 20, 2016 | 08:29 EDT
JPMorgan analyst Michael Weinstein is bullish on Dexcom shares into the July 21 FDA panel. The advisory panel is the key event for the stock in 2016, Weinstein tells investors in a research note. After an in-depth review, Weinstein puts the odds of a positive panel supporting FDA approval of the company's fingerstick replacement label at 80%. He sees 25% upside to Dexcom shares between now and year-end. Getting a non-adjunctive label in the U.S. should open the door to Medicare reimbursement for Dexcom's continuous glucose monitoring, the analyst writes. He keeps an Overweight rating on the shares with a $100 price target.
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