UPDATE: Canaccord Genuity Raises PT on Dexcom on Multiple Catalysts Ahead

In a report published Monday, Canaccord Genuity analyst William J. Plovanic reiterated a Buy rating on DexCom DXCM, and raised the price target from $19.00 to $25.00.

In the report, Canaccord Genuity noted, “We reiterate our BUY rating. We believe commercialization of the G4 Platinum sensor is progressing better than expected, driving new patient addition growth beyond initial expectations. Furthermore, we believe the upcoming catalysts of label expansion to include pediatrics as well as the Sensor Augmented Pump product with Animas in the US provide DexCom with growth accelerators. We have adjusted our model to include our updated thoughts and expected FDA clearances.”

DexCom closed on Friday at $20.94.