Piper Sandler analyst Matt O’Brien raised the firm’s price target on Tandem Diabetes to $50 from $35 and keeps an Overweight rating on the shares. The company’s Q1 results handily beat sales and adjusted EBITDA targets, the analyst tells investors in a research note. Management raised full year guidance by the amount of the beat in Q1, which looks achievable, says Piper. It notes Tandem’s profitability metrics are starting to improve.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% 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>>
Read More on TNDM:
- Wells upgrades Tandem Diabetes on positive endocrinologist survey
- Tandem Diabetes upgraded to Overweight from Equal Weight at Wells Fargo
- Leerink upgrades Tandem Diabetes to Outperform on attractive risk/reward setup
- Tandem Diabetes upgraded to Outperform from Market Perform at Leerink
- Tandem Diabetes price target raised to $40 from $37 at Stifel