DexCom (DXCM) PT Raised to $650 at Piper Sandler After Endocrinologist Survey Shows T2 Adoption Acceleration

Piper Sandler analyst Matt O'Brien raised the price target on DexCom (NASDAQ: DXCM) to $650.00 (from $550.00) while after surveying endocrinologists to help determine whether an acceleration in T2 adoption is occurring.

The analyst reiterated an Overweight rating, stating "our survey shows an acceleration in current and future Type 2 penetration compared to our similar survey conducted 15 months ago. Further, while awareness of the MOBILE dataset was somewhat lukewarm, clinicians strongly vouched for its findings, real-world replicability, and the viability of the primary care setting. With all this data pointing to strong contributions from T2 over the coming years (likely well in excess of DXCM’s $700M expectation), DXCM remains a top idea."

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