Inspire Medical price target lowered to $210 from $350 at Lake Street

Lake Street lowered the firm’s price target on Inspire Medical to $210 from $350 and keeps a Buy rating on the shares. Revenue in Q3 came up short of expectations due to a decrease in prior authorizations impacting patient volumes and “recent events and headline noise are likely to lead to INSP shares opening at their lowest multiple in history,” the analyst tells investors. However, this is despite growth and margins remaining robust and the company nearing profitability, adds the analyst, who expects this quarter to “be a blip in a long history of solid execution” and sees the recent noise putting shares in oversold territory and offering “an attractive buying opportunity.”