Baird analyst Jeff Johnson lowered the firm’s price target on Tandem Diabetes to $33 from $38 and keeps a Neutral rating on the shares. The firm said the beat low bar expectations but the real issue, however, is that management drastically cut 2023 guidance and pulled prior 2027 LRP targets, largely reflecting growing global competitive pressures.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on TNDM:
- Tandem Diabetes sees FY23 non-GAAP sales at least $785M
- Tandem Diabetes reports Q2 EPS (55c), consensus (53c)
- Tandem Diabetes return to growth ‘imminent,’ says Lake Street
- Tandem Diabetes price target lowered to $50 from $74 at Craig-Hallum
- Tandem Diabetes management to meet virtually with Lake Street