Inspire Medical Systems (INSP) PT Raised to $80 at Stifel

Stifel analyst Jonathan Block raised the price target on Inspire Medical Systems (NYSE: INSP) to $80.00 (from $75.00) while maintaining a Buy rating.

The analyst commented, "While our November 2025 upgrade was initially derailed by a volatile reimbursement environment, which led to several negative revisions to 2026 guidance, our diligence at the June Sleep conference suggested that the worst was behind Inspire with green shoots starting to emerge. Inspire followed with 2Q26 results ahead of consensus and the midpoint of 2026 guidance was revised slightly higher. The stock has responded since June lows, and while the bar is now higher, we continue to see favorable risk/ reward with a handful of potential catalysts around the corner. Specifically, we point out the CPT Editorial Panel next week, final CMS codes in November, and an increasing contribution from the replacement cycle, which could all act as catalysts for the stock from current levels. Our past diligence suggests the HGNS market is mid-stage (not late-stage) and competitive inroads have been slow to take hold. Reiterate Buy; TP to $80."

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