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Fly News Breaks for May 6, 2019
STAA
May 6, 2019 | 09:25 EDT
Benchmark analyst Bruce Jackson said the negative reaction in STAAR Surgical shares on Friday was overdone after the company disclosed that the FDA found the information in the supplemental PMA to be insufficient for completion of the review. The revenue impact from a delay, if there is one, would be "pretty minimal," said Jackson, who argues that "investors are essentially getting the U.S. EVO program and the Presbyopia lens for free" at STAAR Surgical's current levels. The analyst, who views the pullback as a buying opportunity, keeps a Buy rating on STAAR shares with a price target of $54.
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