Piper Sandler analyst Matt O’Brien downgraded Tandem Diabetes (TNDM) to Neutral from Overweight with a price target of $14, down from $30, following the Q2 report. The company’s domestic outlook has softened and management now expects renewals to be flat next year, the analyst tells investors in a research note. The firm says Mobi uptake is not as strong as expected as Tandem is likely a third choice among the type 2 diabetes population.
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