SI-Bone assumed with an Overweight at Morgan Stanley

Morgan Stanley assumed coverage of SI-Bone (SIBN) with an Overweight rating and a price target of $15, down from $19. The firm’s lower target factors in some of the overhang around the recently disclosed civil investigative demand from the U.S. Department of Justice, Civil Division, in connection with an investigation under the federal Anti-Kickback Statute and Civil False Claims Act, but says clear adoption and new products support growth.