InspireMD price target lowered to $3 from $4 at Piper Sandler

Piper Sandler analyst Adam Maeder lowered the firm’s price target on InspireMD (NSPR) to $3 from $4 and keeps an Overweight rating on the shares. The firm notes the company reported good Q1 results with sales of $3.4M beating its consensus-matching estimates of $2.7M. The outperformance was driven by strength in both the U.S. and outside U.S. businesses – with Q4 marking the second full quarter of the U.S. launch. Piper is updating its model post-earnings call to reflect the temporary discontinuation of U.S. commercial activity. Altogether, the firm sees the situation as manageable and there’s no change to its positive view on the company’s micromesh carotid stent technology.