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Jefferies recently initiated coverage of Inspire Medical Systems (NYSE:INSP) with a buy rating, lauding the company’s solid fundamentals and predicting no significant impact from GLP-1 drugs.
“We foresee ongoing fundamental strength fueled by the increasing penetration and awareness of HGNS, label expansion, progress in alleviating burdensome pre-surgery diagnostic requirements, and the anticipated launch of the next-gen Inspire 5 system in 2025,” the analysts stated in their report.
Jefferies further stated that it does not anticipate GLP-1s to substantially affect the company’s total addressable market, affirming that diminishing concerns related to GLP-1 and sustained operational progress could potentially expand the company’s valuation over time.
The investment bank has set its price target for the stock at $245.
Exploring Inspire Medical Systems Further
