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Fly News Breaks for December 5, 2019
FLXN
Dec 5, 2019 | 08:44 EDT
Craig-Hallum analyst Francois Brisebois initiated coverage of Flexion with a Buy rating and $24 price target. In a research note to investors, Brisebois says that while many launches struggle with obstacles such as reimbursement and adoption, he believes Flexion's continued execution is starting to bear fruit as depicted by encouraging launch metrics and sales growth for Zilretta injection for osteoarthritis of the knee. He adds as 1% market penetration represents ~$40M in sales, he believes that even with his conservative 2024 peak sales of ~$539M, Flexion remains undervalued at these levels.
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