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Fly News Breaks for December 27, 2019
FLXN
Dec 27, 2019 | 07:04 EDT
BTIG analyst Tim Chiang keeps his Buy rating and $27 price target on Flexion after yesterday's product label update for Zilretta by the FDA, which included the removal of "not intended for repeat administration" statement. The analyst believes that the updated language is more favorable for the product as the label makes includes references to its 52-week Phase 3b repeat dosing study, calling it the "best case outcome" for Flexion. Chiang expects Zilretta sales to accelerate in 2020, with sales reaching as high as $500M or more by 2025.
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