Leerink Partners analyst Danielle Antalffy reiterated an Outperform rating and boosted the price target on Inogen, Inc (NASDAQ: INGN) to $55.00 (from $45.00) as the 2015 outlook moves higher on accelerating POC.

Antalffy commented, "INGN delivered another outstanding quarter of growth, outperforming expectations yet again with 2Q15 sales of $44M (+45% y/y) coming in well ahead of our $36.7M estimate and the Street at $36.9M. The stronger-than-expected POC (portable oxygen concentrator) adoption prompted management to raise 2015 sales guidance by $12M at the midpoint of the range -- to $145M-$149M from $133M-137M previously. To us, this highlights likely sustainable POC adoption momentum with POCs still sitting at just a mid-to-high single-digit penetration rate of the ~3M long-term oxygen therapy (LTOT) patient population. INGN's strength in the quarter was broad-based, but the company did disproportionately benefit from its international B2B sales business (+72% y/y) as well as domestic B2B sales (+81% y/y) as the company's DTC initiatives are clearly raising POC awareness more broadly and INGN brand awareness more specifically."

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Shares of Inogen, Inc closed at $42.60 yesterday.