Inspire Medical price target lowered to $150 from $233 at Piper Sandler

Piper Sandler lowered the firm’s price target on Inspire Medical (INSP) to $150 from $233 and keeps an Overweight rating on the shares following quarterly results. While Q2 was better-than-feared, the focus of the EPS call was regarding the company’s revised FY2025 guidance, which was lowered sharply to account for several headwinds – most of which are related to the gen 5 rollout. While the firm had suspected that “we could see a downward revision, we were disappointed by the magnitude of the cut to both the top and bottom-line guide,” which has shares indicated down 20%-plus after hours.