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Fly News Breaks for December 27, 2019
FLXN
Dec 27, 2019 | 07:57 EDT
BMO Capital analyst Gary Nachman keeps his Outperform rating and $29 price target on Flexion after the FDA updated its Zilretta label, modifying the "Limitation of Use" component to the less onerous sounding "efficacy and safety of repeat administration of Ziretta have not been demonstrated" from "not intended for repeat administration". The analyst believes that the update is "unlikely" to drive a major inflection in Flexion shares, but still contends that Zilretta's momentum should "certainly strengthen" after this FDA revision.
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