Jefferies Starts Inspire Medical Systems (INSP) at Buy, 'Solid Fundamentals; No Material GLP Impact; Cheap for Growth'

Jefferies analyst Michael Sarcone initiates coverage on Inspire Medical Systems (NYSE: INSP) with a Buy rating and a price target of $245.00.

The analyst comments "INSP holds the dominant share in the fast growth, $10B US hypoglossal nerve stim (HGNS) market for OSA, which is only 5% penetrated. We expect no material GLP-1 impact on growth and strong fundamentals supported by label expansion, rising awareness, reduced DISE requirements, and next-gen Inspire 5. We expect continued execution and receding GLP-1 fears over time could drive multiple expansion. We initiate with a Buy rating and $245 PT."

For an analyst ratings summary and ratings history on Inspire Medical Systems click here. For more ratings news on Inspire Medical Systems click here.

Shares of Inspire Medical Systems closed at $193.31 yesterday.

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