Tandem Diabetes Insulin Pump Demand to Surge Despite Popular Demand Of Weight Loss Drugs, Bullish Analyst Says
Portfolio Pulse from Vandana Singh
RBC Capital Markets initiated coverage on Tandem Diabetes Care, Inc. (NASDAQ:TNDM) with an Outperform rating and a $65 price target. Despite the rise of GLP-1 drugs, the demand for Tandem's insulin pumps is expected to grow, driven by market expansion and product innovation. RBC projects profitability and positive EBITDA margins for Tandem by 2024.
October 02, 2024 | 6:11 pm
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RBC Capital Markets initiated coverage on Tandem Diabetes Care with an Outperform rating and a $65 price target. The demand for Tandem's insulin pumps is expected to grow despite the rise of GLP-1 drugs, driven by market expansion and product innovation.
RBC's Outperform rating and $65 price target suggest a positive outlook for Tandem Diabetes Care. The analyst highlights growth drivers such as market expansion and product innovation, which are expected to boost demand for insulin pumps despite the popularity of GLP-1 drugs. The projection of profitability and positive EBITDA margins by 2024 further supports a positive short-term impact on TNDM's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
Eli Lilly's GLP-1 drug, tirzepatide, is mentioned as part of the growing popularity of GLP-1 drugs. However, these drugs are not seen as a major threat to insulin pump adoption.
While Eli Lilly's GLP-1 drug, tirzepatide, is gaining popularity, the news suggests it does not pose a significant threat to insulin pump adoption. Therefore, the short-term impact on LLY's stock price is neutral.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 30
NEUTRAL IMPACT
Novo Nordisk's GLP-1 drugs, semaglutide as Wegvoy and Ozempic, are mentioned as part of the growing popularity of GLP-1 drugs. However, these drugs are not seen as a major threat to insulin pump adoption.
Novo Nordisk's GLP-1 drugs are gaining popularity, but the news indicates they do not significantly threaten insulin pump adoption. Thus, the short-term impact on NVO's stock price is neutral.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 30