In a report released yesterday, Josh Jennings from TD Cowen maintained a Buy rating on Insulet (PODD – Research Report), with a price target of $324.00.
Josh Jennings has given his Buy rating due to a combination of factors including Insulet’s strong performance data and promising growth opportunities. The recent Radiant study results presented at the ATTD conference demonstrated significant improvements in glycemic control for users of the Omnipod 5 system, particularly for those transitioning from multiple daily injections. This clinical success underscores the potential for increased adoption of the Omnipod 5, bolstering its market position.
Furthermore, Jennings highlights key growth drivers for Insulet, such as the expansion of the US type 2 diabetes market, international market penetration, and ongoing innovations like the Omnipod 5’s compatibility with the Libre system and a new iPhone app. These strategic initiatives are expected to sustain and enhance commercial momentum, supporting the Buy rating for Insulet’s stock.
In another report released on March 19, Bank of America Securities also reiterated a Buy rating on the stock with a $335.00 price target.
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