UPDATE: Brean Murray Carret Initiates Buy, $24 Target on Insulet
Brean Murray Carret initiates a Buy rating and $24 price target on Insulet (NASDAQ: PODD) as the company presents an attractive growth story with a key approval looming in the near term.
Brean Murray Carret notes, "We are initiating coverage of Insulet (PODD) with a Buy rating. Insulet is uniquely positioned in the $1B insulin pump market as the only supplier of a disposable patch insulin pump, the OmniPod, a highly differentiated product offering which has gained a strong following due to its ease of use and ease of training, among other features. A next gen version of the pump, EROS, finally appears close to FDA clearance, and further improves upon the existing technology ‐ delivering a significant size reduction to wearers and a notable reduction in cost of goods."
PODD closed at $19.11 per share on Friday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.