Wells Fargo analyst David Maris noted the report claiming that Sanofi (SNY) is near a deal to buy Flexion (FLXN) stating that the timing of this speculation "fits with the appropriate time for a company to be interested," but is complicated by the fact that its CFO recently announced his retirement, which makes it seem "less likely." However, Maris adds that it is possible an offer could have come in after the CFO announcement. Maris, who models peak sales of $908M for Flexion's Zilretta and said that could be a conservative estimate, has an Outperform rating on the shares.