Inspire Medical price target raised to $240 from $217 at Truist

Truist raised the firm’s price target on Inspire Medical to $240 from $217 and keeps a Buy rating on the shares after attending the annual meetings of the International Sleep & American Academy of Otolaryngology, Head & Neck Surgery. The conference has a heavy focus on hypoglossal nerve stimulation and its use in Obstructive Sleep Apnea, and the company’s PREDICTOR study looks like a “step in the right direction” towards building data to support an alternative measurements to DISE – drug-induced sleep endoscopy – for Inspire eligibility determination, though it will take time for the company to work with all insurers to remove the specific DISE requirements from insurance policies, the analyst tells investors in a research note.