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Conformis Is A Failed Market Experiment, No Justification For Its 400%+ Rally – $0.50 Price Target

We believe the 400% appreciation of Conformis (CFMS) in 2019 is not from any positive fundamental developments, but from hype and speculation.

Its customizable hip implant, reported at AAOS, is not new, has been FDA approved since 2017, and is too early in clinical evaluation to justify a rally from it.

CFMS business has many flaws: its customizable implants have not been shown to be an improvement to standard implants, yet they are more expensive and have a longer implant process.

The company made small improvements in Q41