Inspire Medical initiated with an Outperform at RBC Capital

RBC Capital analyst Shagun Singh initiated coverage of Inspire Medical with an Outperform rating and $285 price target. The company offers a novel solution to treat patients suffering from obstructive sleep apnea in a $16B U.S. market, the analyst tells investors in a research note. The firm says Inspire has a notable first-mover advantage and is rapidly growing sales, led by higher market penetration and utilization, while improving profitability.