Inspire Medical price target raised to $355 from $310 at BofA

BofA raised the firm’s price target on Inspire Medical to $355 from $310 and keeps a Buy rating on the shares after the FDA approved the company’s updated physician programmer that automatically connects with its SleepSync cloud patient management portal. The programmer is a key step to bringing remote patient monitoring to reality and Inspire should now be able to file soon for remote patient programming, the analyst tells investors in a research note. The firm sees Monday’s approval “as just another example of INSP innovating and advancing its technology well before competition makes it to market.”