Tandem Diabetes initiated with a Buy at Canaccord

Canaccord initiated coverage of Tandem Diabetes with a Buy rating and $57 price target. Tandem is well positioned to leverage automated insulin delivery innovation to capture growth across its current product portfolio of durable insulin pumps and longer term from a pipeline of new pump technologies, the analyst tells investors in a research note. The firm believes the incremental U.S. FDA clearance of automated insulin delivery in the intensive insulin therapy type 2 diabetes population, expected in mid-2025, will position pumps for significant longer-term growth.