RBC Capital Reiterates Buy Rating on Inspire Medical Systems with $180 Price Target

Inspire Medical Systems (INSP) received a Buy rating and $180 price target from RBC Capital's Singh Chadha. The company has a one-year high of $225 and a one-year low of $73.92. Inspire Medical Systems has a negative corporate insider sentiment with 63 insiders selling shares over the past quarter.

Inspire Medical Systems (INSP) has garnered significant attention from Wall Street analysts, with a majority expressing a positive outlook on the company's stock. RBC Capital's Shagun Singh Chadha recently reiterated a Buy rating for INSP, setting a price target of $180 [1]. This rating aligns with the broader analyst consensus, which is currently skewed towards a Moderate Buy, with 18 analysts providing this rating in the past three months [1].

The average 12-month price target for INSP stands at $150.50, reflecting a substantial 67.11% upside from the current price of $90.06 [1]. Analysts' forecasts range from a high of $255.00 to a low of $82.00, indicating a wide range of expectations for the company's future performance [1].

Several prominent firms have maintained their Buy ratings for INSP, including RBC Capital, Morgan Stanley, and Mizuho Securities. However, some analysts have downgraded their ratings or lowered their price targets. For instance, Leerink Partners lowered its price target to $97 from $116, while Piper Sandler and Stifel Nicolaus also revised their targets downward [1].

Despite the recent changes in analyst ratings, INSP has shown resilience in its financial performance. The company's earnings per share (EPS) for the previous quarter was $0.45, and it has consistently beaten its EPS estimates over the past 12 months [1]. Similarly, INSP's sales have outperformed industry benchmarks, with the company's sales estimates being met or exceeded in the past year [1].

Corporate insider sentiment, however, remains negative, with 63 insiders selling shares over the past quarter. This could potentially impact the stock's performance in the short term, but analysts remain optimistic about INSP's long-term prospects [1].

References:
[1] https://www.tipranks.com/stocks/insp/forecast