UPDATE: Jefferies Raises PT to $25 on Insulet Following Eros FDA Approval

Jefferies reiterated its Buy rating on Insulet

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.