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On Monday, Piper Sandler adjusted its price target for InspireMD (NASDAQ:NSPR) shares to $4.00, down from the previous $4.50, while maintaining an Overweight rating on the company’s stock. Currently trading at $2.60, the stock has gained over 16% in the past year. The adjustment follows InspireMD’s first-quarter results, which showcased sales surpassing Piper Sandler’s forecasts, with revenue growing 8.5% year-over-year. According to InvestingPro analysis, the stock appears slightly overvalued at current levels.
InspireMD has revised its timeline for the anticipated FDA approval of its CGuard Prime stent, now projecting approval in the third quarter of 2025, a shift from the initial expectation of the first half of the same year. According to the company, this delay has been caused by factors outside of its control. InvestingPro data shows the company maintains a strong liquidity position with a current ratio of 4.36 and more cash than debt on its balance sheet, though it’s currently burning through cash rapidly. Additionally, the expected U.S. launch of InspireMD’s SwitchGuard TCAR system, currently in development, has been subtly adjusted to a later date in 2026.
Despite these postponements, Piper Sandler’s analyst remains optimistic about InspireMD’s progress towards U.S. approval and commercialization. The firm expressed satisfaction with the update on the enrollment for the CGUARDIANS II study, which has reached eight active sites, keeping the company on track for a potential FDA approval in the first half of 2026.
Piper Sandler’s analyst conveyed a continued positive outlook for InspireMD, highlighting the potential for significant value creation within the next 12 to 18 months. The Overweight rating suggests that the analyst believes InspireMD’s stock has a better prospective performance than other stocks in the analyst’s coverage universe. Despite the adjustments to the company’s FDA approval and product launch timelines, Piper Sandler’s stance on InspireMD remains unchanged, reiterating the Overweight rating with a revised price target of $4.00.
In other recent news, InspireMD Inc . reported its first-quarter 2025 earnings, revealing a mixed performance. The company exceeded earnings per share (EPS) expectations with an actual EPS of -$0.22, surpassing the forecast of -$0.31. However, revenue fell short of expectations, coming in at $1.53 million compared to the anticipated $1.79 million. This revenue miss has raised concerns among investors despite the positive EPS results. InspireMD is preparing for the U.S. launch of its CGuard Prime stent, which is anticipated to receive FDA approval in the third quarter of 2025. Analysts from Piper Sandler and Lake Street Capital have expressed interest in the company’s regulatory timelines and commercial strategies. The company is also targeting FDA approval for its CGuardians Two trial in the first half of 2026 and potential clearance for its Switchgard neuroprotection system in late 2026. These developments are part of InspireMD’s efforts to enhance its market position amid ongoing financial challenges.
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