Masimo Corp. (MASI ) PT Raised to $155 at Needham & Company On Opiod Device Potential

Needham & Company analyst Michael Matson raised the price target on Masimo Corp. (NASDAQ: MASI ) to $155.00 (from $148.00) while maintaining a Buy rating after the company was selected as a winner in the FDA opioid device challenge. The FDA will work with MASI to expedite clearance of its device which the analyst believes is intended for home monitoring of patients using prescription opioids. The product could be launched as soon as late 2019 but the company hasn't provided many details or market size estimates.

The analyst stated "Based on 191M annual opioid prescriptions in the US, we think the market for such a device could be very large and reach $1B or more. We expect to learn more at MASI's 5/16/19 investor day and expect it to serve as a major catalyst".

You May Also Be Interested In

• Alto Neuroscience (ANRO) PT Raised to $55 at H.C. Wainwright
• Needham on Lululemon (LULU): 'Fundamentals Remain Challenged, We Remain Cautious'
• Artivion Inc. (AORT) PT Raised to $40 at Canaccord