TD Cowen analyst Josh Jennings has reiterated their bullish stance on TNDM stock, giving a Buy rating yesterday.
Josh Jennings has given his Buy rating due to a combination of factors that suggest a positive outlook for Tandem Diabetes Care. Despite the stock’s recent decline, Jennings believes that the upcoming presentation of the type 2 diabetes trial results will bolster confidence in the company’s growth potential. The trial, which has already supported FDA clearance, is seen as a significant growth driver for the company.
Jennings anticipates that the detailed presentation of the trial’s design and results at the ATTD meeting will highlight the effectiveness of Tandem’s technology, potentially reversing concerns about market share loss. The study’s successful outcomes, involving a substantial number of participants, underscore the potential for Tandem’s products to gain traction in the type 2 diabetes market, thus justifying the Buy rating.
In another report released yesterday, Barclays also reiterated a Buy rating on the stock with a $53.00 price target.
Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TNDM in relation to earlier this year.
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