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ESTA

Establishment Labs

$22.40 /

+1.43 (+6.82%)

, AGN

Bought by ABBV

$166.16 /

-0.57 (-0.34%)

07:50
07/12/19
07/12
07:50
07/12/19
07:50

Australia implant ban 'excellent news' for Establishment Labs, says Wells Fargo

Wells Fargo analyst David Maris believes Australia's proposal to ban, suspend or impose strict restrictions on a number of textured implants from Allergan (AGN), Johnson & Johnson (JNJ) and other smaller manufacturers is "excellent news" for Establishment Labs Holdings (ESTA). The move by Australia's regulatory body Therapeutic Goods Administration will help solidify Establishment's reputation for safety as the company's Motiva brand is the only listed company without any restricted brands, Maris tells investors in a research note. Further, Australia is a highly regulated and developed market, so the ban could help shift market share in other geographies outside of the county as well, contends the analyst. Maris reiterates an Outperform rating on Establishment Labs with a $29 priced target. The stock closed yesterday up $1.54 to $22.44.

ESTA

Establishment Labs

$22.40 /

+1.43 (+6.82%)

AGN

Bought by ABBV

$166.16 /

-0.57 (-0.34%)

JNJ

Johnson & Johnson

$140.09 /

-1.14 (-0.81%)

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ESTA Establishment Labs
$22.40 /

+1.43 (+6.82%)

07/11/19 Wells Fargo
Market right in seeing rebate news as risk to pharmaceuticals, says Wells Fargo
07/11/19 Jefferies
Australia implants decision a 'big positive' for Establishment, says Jefferies
06/28/19 Wells Fargo
Establishment Labs initiated with an Outperform at Wells Fargo
06/07/19
Fly Intel: Top five analyst initiations
AGN Bought by ABBV
$166.16 /

-0.57 (-0.34%)

07/03/19 Truist
Allergan price target raised to $185 from $170 at SunTrust
06/27/19 Wolfe Research
AbbVie upgraded to Peer Perform from Underperform at Wolfe Research
JNJ Johnson & Johnson
$140.09 /

-1.14 (-0.81%)

07/12/19 Credit Suisse
Johnson & Johnson assumed with an Outperform at Credit Suisse
07/11/19 Raymond James
Death of drug rebate rule a win for PBMs and distributors, says Raymond James
05/30/19 Cowen
Johnson & Johnson weakness may be overdone, says Cowen

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