Inogen recent share selloff ‘way overdone,’ says Piper Jaffray

After visiting the company’s headquarters and meeting with its CFO, Piper Jaffray analyst JP McKim says the recent pullback in shares of Inogen is “way overdone.” While the analyst does not expect “anything heroic in terms of a massive bounce back” in Q1 business-to-business sales, he points out that management did seem more open to a stock buyback program than they have in previous meetings. In 10 years, there will not be patients wheeling around oxygen tanks and Inogen remains the best way to play this “thematic shift,” McKim tells investors in a research note. He keeps an Overweight rating on the shares with a $185 price target. The stock closed Friday down $3.28 to $93.95.

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