Inspire Medical price target lowered to $97 from $116 at Leerink

Leerink analyst Mike Kratky lowered the firm’s price target on Inspire Medical (INSP) to $97 from $116 and keeps a Market Perform rating on the shares in the wake of Inspire’s disappointing Q2 results. With the stock trading near trough valuation levels following significant recent and year-to-date underperformance, Inspire looks increasingly attractive at current levels, the firm says. However, Leerink continues to see a balanced risk/reward skew with potentially structural fundamental headwinds offsetting this undemanding valuation.