Tandem Diabetes price target raised to $22 from $17 at UBS

UBS raised the firm’s price target on Tandem Diabetes (TNDM) to $22 from $17 and keeps a Neutral rating on the shares. Tandem Diabetes reported a strong sales beat of 5% versus consensus, driven by pump shipments, ASP uplift, and a doubling of pharmacy channel sales, with profitability also improving, the analyst tells investors in a research note. While the transition to the PayGo model supports long-term growth, near-term uncertainty remains due to competitive pressures, sustainability of pricing tailwinds, and reliance on reduced R&D spend for the quarter’s outperformance, the firm says.