Oppenheimer analyst Suraj Kalia assumed coverage of Tandem Diabetes (TNDM) with an Outperform rating and price target of $22, down from $44. The firm updated the company’s model post the Q2 report. The company’s Mobi pump launch is underway, which is an important catalyst following the impact of competitor launches, the analyst tells investors in a research note. Opco believes Tandem has a number of other near-term opportunities, including the ramp of a renewal cycle.
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