Needham analyst Mike Matson, in a note to investors titled "When Life Gives You Lemons... ...Buy INGN," expressed his belief that the short report on the company published by Citron Research has created an "excellent entry point." In response to some of Citron's major points, he argues that the stock's multiple is not unreasonable when appropriately compared to med tech companies with high growth rates, that the company's R&D spending is "sufficient," the bulk of insider selling since the IPO was by venture capitalists and that Inogen has never had issues with Medicare billing "as far as he knows." Matson has a Strong Buy rating and $215 price target on Inogen shares.