Needham analyst Michael Matson upgraded Inogen (INGN) to Buy today and set a price target of $280. The company’s shares closed yesterday at $137.45, close to its 52-week low of $112.78.
Matson commented:
“We are upgrading INGN to Strong Buy from Buy given: 1) we think that INGN should have a significant new product cycle in 2019 anchored by its G5 portable oxygen concentrator (POC); 2) our belief that estimates remain very conservative and that INGN can continue to deliver meaningful upside to consensus; 3) easing comps in 2H19; and 4) INGN shares are now trading at a discount to small/mid- cap growth peers despite higher projected revenue growth.”
According to TipRanks.com, Matson is a 5-star analyst with an average return of 11.3% and a 63.4% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Cardiovascular Systems, and Zimmer Biomet Holdings.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Inogen with a $260.33 average price target, representing an 89.4% upside. In a report issued on November 7, Stifel Nicolaus also reiterated a Buy rating on the stock with a $211 price target.
.
See today’s analyst top recommended stocks >>
Inogen’s market cap is currently $2.96B and has a P/E ratio of 75.31. The company has a Price to Book ratio of 10.15.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Inogen, Inc . engages in the development, manufacture, and marketing of portable oxygen concentrators used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions. Its products consists of Inogen One G4 system, Inogen One G3 system, Inogen One G2 system, and Inogen at Home. The company was founded by Alison Perry, Alison Bauerlein, Brenton Taylor and Byron Myers on November 27, 2001 and is headquartered in Goleta, CA.
