Tandem Diabetes price target raised to $56 from $32 at Piper Jaffray

Piper Jaffray analyst JP McKim raised his price target for Tandem Diabetes to $56 following the company’s “positive” analyst day. The analyst has confidence in above average growth over the next 12 months and sees “lots of room” for estimates to go higher. The shares need to be owned during this “Goldilocks Period” where the company has the best closed loop system on the market, McKim tells investors in a research note. He reiterates an Overweight rating on Tandem Diabetes.
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