- Health Insurance Innovations (NASDAQ:HIIQ) is poised to continue yesterday's slide, down 15% premarket on robust volume, despite management's conference call yesterday aimed at stemming the selloff after SA Contributor Richard Pearson (LON:PSON) published a bearish report on the company.
- Bullish sell-sider Lake Street believes investors overreacted since Mr. Pearson's article is mostly "rehashing old benign regulatory items that have little or no materiality." It say it would be an "aggressive buyer" of the stock as investors realize their mistake. Lake maintains its $37 (58% upside) price target.
- Previously: Health Insurance Innovations under pressure on bearish report from SA Contributor Pearson; shares down 14% (Sept. 11)
- Update: In a statement, the company says the Indiana Multi-State examination remains open and the alleged $100M potential fine is not based on any facts.
- The Florida licensure issue in ongoing. A final hearing was scheduled for October 17-20 but was postponed. The company is in talks with the Office of Insurance Regulation on a potential resolution.
- Now read: Aldeyra's lead product candidate successful in mid-stage dry eye study; shares ahead 38% premarket
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