02:30 PM EDT, 05/06/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lift our target price to $48 from $36, a 43.0x forward P/CF, a discount to peers due to a longer timeline to reach profitability. We widen our net loss estimates in 2024 by $0.02 to -$1.67 and 2025 by $0.10 to -$1.10. A Q1 per-share loss of $0.64 vs. a $0.63 loss beat consensus by $0.13. Sales of $192M in Q1 were strong, driven by strong pump sales outside the U.S., with 10,000 shipments in Q1 2024 vs. 6,000 in Q1 2023 due to market expansion and competitive conversions. TNDM had multiple commercial launches: 1) Tandem Mobi with Dexcom G6 CGM sensor integration in the U.S., 2) t:slim X2 integration with the Abbott Freestyle Libre 2 Plus CGM in the U.S., and 3) rolling launch of t:slim X2 with Dexcom G7 sensor integration outside the U.S. Mobi sales in particular exceeded our expectations, and we note that TNDM received FDA clearance to lower Mobi's age indication to two and above. We forecast 10% sales growth in 2024, a reversal from 2023's sales contraction, driven by TNDM's new product launches.