As previously reported, SVB Leerink analyst Danielle Antalffy downgraded Inogen to Market Perform from Outperform and lowered her price target on the shares to $47 from $78. While the analyst does believe in the incremental growth runway within POCs alone, the trajectory from here is a bit of a question to her due not only to recent execution issues on the D2C side of the business but also potentially changing/shifting market dynamics that could drive a longer and slower adoption curve than the about 50%-plus B2B domestic growth seen over the 2016-mid-2018 timeframe. Given her lack of confidence in the timing to drive a stabilization and return to solid and sustainable double-digit growth, Antalffy is moving to the sidelines.