Stifel analyst Mathew Blackman upgraded Tandem Diabetes to Buy from Hold with a price target of $37, up from $24. The firm sees the second-round of Mobi-specific diligence – and first since its full-launch – painting a “bullish picture” for the stock, noting that its survey suggests that Mobi adoption is potentially occurring more-rapidly and to a greater magnitude-than-expected while also resonating with physicians. Stifel adds that this is not a “Q1 call”, but rather reflects Tandem’s ability to outperform modest new patient growth expectations.
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- Tandem Diabetes sees Q1 revenue $175M, consensus $186.09M
- Tandem Diabetes sees FY24 non-GAAP revenue roughly $850M, consensus $842.49M
