As previously reported, Oppenheimer analyst Suraj Kalia upgraded Inspire Medical (INSP) to Outperform from Perform with a $175 price target The firm believes CMS has erred on mapping HGNS facility rate to higher levels, violating its own cost input protocol for rate-setting. Company commentary also suggests ASP increases now in play, Oppenheimer adds. If ASP’s are raised about 20%-40%, revenues increase about 30%-50%, gross margins 200-350 bps, and EPS increases to about $6.50-$11.50.
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