Tandem Diabetes Insulin Pump Demand to Surge Despite Popular Demand Of Weight Loss Drugs, Bullish Analyst Says
Tandem Diabetes Insulin Pump Demand to Surge Despite Popular Demand Of Weight Loss Drugs, Bullish Analyst Says
The analyst also added that the rise of GLP-1s class drugs is not a major threat to insulin pump adoption.RBC Capital Markets initiated coverage on Tandem Diabetes Care, Inc. (NASDAQ:TNDM), a global insulin delivery and diabetes technology company that manufactures and sells advanced automated insulin delivery systems.
RBC资本市场对Tandem Diabetes Care, Inc.（纳斯达克：TNDM）进行了研究覆盖，该公司是一家全球胰岛素传递和糖尿病技术公司，生产和销售先进的自动胰岛素传递系统。
The analyst highlights several key growth drivers for Tandem, positioning it for sustained growth over the coming years driven by expansion into the U.S. Type 1 market with a 40% pump penetration (Tandem has a one-third share), which is expected to rise to the mid-60s and Type 2 market with 6% penetration.
分析师指出Tandem的几个关键增长驱动因素，使其定位于未来几年的持续增长，扩张到美国的Type 1市场，泵式渗透率为40%（Tandem占三分之一市场份额），预计将升至中等60%的水平，以及Type 2市场，渗透率为6%。
The company is also seeking deeper penetration within existing accounts through product innovations.
该公司还通过产品创新寻求加深在现有客户账户内的渗透。
The analyst also added that the rise of GLP-1s class drugs is not a major threat to insulin pump adoption.
分析师还表示GLP-1类药物的崛起不会对胰岛素泵的采用构成重大威胁。
GLP-1 drugs such as Novo Nordisk A/S' (NYSE:NVO) semaglutide as Wegvoy and Ozempic and Eli Lilly And Co's (NYSE:LLY) tirzepatide as Zepbound and Mounjaro, have recently made waves.
诸如Novo Nordisk A/S的（纽交所：NVO）semaglutide（商業名稱Wegvoy和Ozempic）和Eli Lilly And Co的（纽交所：LLY）tirzepatide（商業名稱Zepbound和Mounjaro）等GLP-1类药物最近引起轰动。
RBC analyst highlights that insulin is essential for insulin-dependent patients, as GLP-1 medications cannot regenerate beta cells or halt their deterioration. As a result, the need for insulin remains.
RBC分析师强调，对于依赖胰岛素的患者，胰岛素是必不可少的，因为GLP-1药物无法再生β细胞或阻止其退化。因此，对胰岛素的需求仍然存在。
The Type 2 diabetes population, which suffers from irreversible beta cell loss, is underserved.
患有不可逆转的β细胞流失的2型糖尿病人群得到了不足的服务。
The growing popularity of GLP-1 drugs may lead to earlier diagnoses of Type 2 diabetes and prompt insulin use, potentially expanding the market.
GLP-1药物日益受欢迎可能会导致2型糖尿病的较早诊断并促使胰岛素的使用，潜在地扩大市场。
RBC initiated Tandem with an Outperform, with a price target of $65, citing a significant upside potential driven by earning revisions and multiple expansions.
RBC对Tandem发起了强劲的买入评级，目标价为65美元，原因是收益修订和多次扩张推动着巨大的上行潜力。
RBC sees an opportunity for Tandem to achieve profitability over time and projects gross margins of 51% in 2024 or flat y/y to reflect the Mobi launch and investments in several ongoing R&D initiatives.
RBC认为Tandem有机会随着时间实现盈利，并预计2024年的毛利率为51%，或年复合增长率持平，以反映Mobi的推出和对多项持续研发计划的投资。
The analyst sees a clear path for the company to reach its goal of approximately 65% margins, with Mobi accounting for about half of that progress. Further gains are anticipated from planned initiatives.
分析师看到公司实现约65%利润率的明确路径，其中Mobi占大约一半的进展。进一步的收益预计将来自计划中的举措。
RBC projects breakeven for 2024, with positive adjusted EBITDA margins expected in the second half of the year.
RBC预测2024年达到盈亏平衡，预计全年下半年将实现正调整EBITDA利润率。
Price Action: TNDM stock is down 0.37% at $40.92 at the last check on Wednesday.
价格走势：周三最后查询时，TNDm股价下跌0.37%，报40.92美元。
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