Actionable news
0
All posts from Actionable news
Actionable news in DXCM: DexCom, Inc.,

JPMorgan Bullish On Dexcom Heading Into July 21 FDA Panel

JPMorgan provided its bullish outlook on DexCom, Inc. DXCM 6.39% on Monday. The bank believes there is an 80 percent chance of positive vote in the upcoming FDA Panel, scheduled on July 21.

According to JPMorgan, they're confident in their view of positive outcome after conducting number of interviews with company representatives, industry experts, regulatory consultants, and thoroughly reviewing the data. The analysts see a stock price increase of 25 percent to the year-end in case of positive panel support of FDA approval, and a rise of 15-20 percent if the panel considers the current data insufficient and decides to wait for additional trials.

FDA approval will give Dexcom a non-adjunctive/fingerstick replacement label, which "would mean that G4 and G5 would be approved for patients to make insulin dosing decisions off of the CGM readings. Dexcom already has this label in Europe with G5."

JPMorgan kept its target of $100 on Dexcom shares unchanged, but increased the forecasted period from Y/E 2016 to Y/E 2017.

DateFirmActionFromTo
Apr 2016BTIG ResearchInitiates Coverage onBuy
Feb 2016JefferiesMaintainsBuy
Feb 2016JP MorganMaintainsOverweight

© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.