Piper Sandler raised the firm’s price target on Inspire Medical (INSP) to $165 from $135 and keeps an Overweight rating on the shares. The firm acknowledges that it has been a volatile year for Inspire’s shares. While the stock is down 26% year-to-date, shares are up about 86% since Q3 EPS, likely driven by a better-than-expected update and positive reimbursement news. Despite the recent move, shares still trade at about 3.3 times 2027 consensus revenue, which Piper would argue is still very reasonable for a double-digit grower with mid-80s gross margin and GAAP profitable.
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