Jefferies initiated coverage of Inspire Medical with a Buy rating and $245 price target. The company holds the dominant share in the fast growth, $10B U.S. hypoglossal nerve stim market for obstructive sleep apnea, which is only 5% penetrated, the analyst tells investors in a research note. The firm expects no material GLP-1 impact on the company’s growth and “strong fundamentals,” supported by label expansion, rising awareness and the next-generation Inspire 5.
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