Tandem Diabetes price target raised to $40 from $37 at Stifel

Stifel raised the firm’s price target on Tandem Diabetes to $40 from $37 and keeps a Buy rating on the shares. The firm’s latest survey of physicians in 48 practices provided new, supportive data points for its 2024 new patient growth thesis, while also demonstrating confirmatory, or even stronger, reads on other key metrics compared to its last survey, the analyst tells investors. The firm adds that its target hike “is not a 1Q call” as it notes the full Mobi release started Mid-February, so it doesn’t expect visible Q1 evidence of the firm’s NRx growth thesis, but it does expect supportive management “commentary.”