Inspire Medical downgraded to Equal Weight from Overweight at Wells Fargo

Wells Fargo downgraded Inspire Medical (INSP) to Equal Weight from Overweight with a price target of $70, down from $145. The firm says that while significant downside risk to Inspire’s 2026 revenue seems less likely with its IV system availability, there is too much uncertainty about physician reimbursement that is likely to remain an overhang on shares for some time.