10:30 AM EDT, 05/17/2024 (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 maintain a 12-month price target of $225, based on a '25 P/E of 300x. We raise our adjusted EPS estimates to $0.15 from -$0.40 for '24 and to $0.75 from $0.70 for '25. INSP posted Q1 EPS of -$0.34 vs. -$0.53, well ahead of the -$0.67 consensus. Revenue rose 28% to $164.0M ($2.9M ahead of consensus), supported by new implanting centers and higher utilization at existing centers. INSP added 66 new centers in the quarter, well above the guidance midpoint of 52-56 per quarter. Gross margin expanded 50 bps to 84.9% (110 bps ahead of consensus). INSP increased its full-year revenue guidance to $783M-$793M from $775M-$785M, and also introduced EPS guidance of $0.10-$0.20 (current consensus is $782M and -$0.42, respectively). We maintain a Hold opinion on valuation following recent multiple expansion, though we look favorably on the company's balance sheet health with significant net cash. Longer term, we believe INSP has a large addressable market in the U.S. within obstructive sleep apnea (OSA).