UPDATE: Jefferies Raises PT to $25 on Insulet Following Eros FDA Approval
Jefferies reiterated its Buy rating on Insulet (NASDAQ: PODD) and increased its price target from $23 to $25.
Jefferies said, "Insulet announced approval of the Eros pod this morning, bringing a close an almost two year 510k approval process. Insulet estimates it will take 45-60 days to educate customers and scale up to a full launch, which puts the beginning of the transition from the legacy pod to Eros in March. The company has stockpiled approximately 6-7 weeks of inventory with the current pod to enable a quick transition to Eros manufacturing."
Insulet closed at $21.85 on Friday.
Latest Ratings for PODD
|Aug 2014||JP Morgan||Maintains||Overweight|
|May 2014||Barrington Research||Upgrades||Market Perform||Outperform|
|May 2014||Feltl & Co.||Upgrades||Sell||Hold|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.