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Inspire Medical downgraded to Neutral from Overweight at JPMorgan

JPMorgan analyst Robbie Marcus downgraded Inspire Medical (INSP) to Neutral from Overweight with a price target of $110, down from $195. The company’s Q2 update was “disappointing” with a significant cut to 2025 guidance, the analyst tells investors in a research note. The firm believes investors will struggle to separate Inspire’s logistics and execution issues from underlying demand issues. It cites uncertain demand trends for the Inspire V launch and execution issues for the downgrade.

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