Piper Jaffray analyst JP McKim raised his price target for Tandem Diabetes to $25 following FDA approval of the company's t:slim X2 Insulin Pump with Basal-IQ. Having a system like Basal-IQ to be paired with no finger stick G6 is a "game changer," McKim tells investors in a research note. The 670G is patient intensive requiring four-to-eight finger sticks a day, and while Basal-IQ is not a hybrid closed loop, it eliminates finger sticks for patients, the analyst points out. He expects the approval to attract competitive wins for Tandem, especially Animas patients, and give the company's install base an attractive reason to upgrade to a new pump. The analyst keeps an Overweight rating on Tandem Diabetes.

Leerink upgraded Tandem Diabetes to Outperform from Market Perform with a $45 price target.