As previously reported, Morgan Stanley downgraded Inspire Medical (INSP) to Equal Weight from Overweight with a price target of $130, up from $105. Growth has slowed down to about 10%, which is “a dynamic that worries us” given how nascent the U.S. HGNS market is, the analyst tells investors. While many of the initial hurdles with Inspire V’s launch are behind the company, the firm still lacks visibility into the core business and the “true” long-term total addressable market, the analyst added.
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