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Fly News Breaks for March 13, 2019
MASI
Mar 13, 2019 | 09:10 EDT
Needham analyst Mike Matson raised his price target on Masimo to $155 and kept his Buy rating after the company was selected as a "winner in the FDA opioid device challenge". The win is expected to expedite the FDA clearance of the company's device "intended for home monitoring of patients using prescription opioids", the analyst writes in his research note, with expectations that the product could be launched by the end of 2019. Given the 191M annual opioid prescription market in the U.S., Matson contends that the market for this device could be as much as $1B or more, noting that Masimo may update further on the prospects of that product at its May 16th analyst day.
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