On the fly News and insights, exclusive to thefly.com

ESTA

Establishment Labs

$22.40

1.43 (6.82%)

, AGN

Allergan

$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

Allergan

$166.16

-0.57 (-0.34%)

JNJ

Johnson & Johnson

$140.09

-1.14 (-0.81%)

  • 16

    Jul

  • 09

    Sep

  • 16

    Sep

  • 02

    Oct

  • 13

    Nov

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.