After talking with Tandem Diabetes' management following the press release involving a software update to Control-IQ mid-trial, Piper Jaffray analyst JP McKim says the company does not expect this update to delay any of the key timelines including trial data at ADA or the Control-IQ launch later this year. The analyst's base case is that this delays the trial end date by 2-3 weeks, which in the grand scheme of things is "not a big deal." Early feedback from patients and physicians is that Control-IQ is "a game changer," so with 71% of patients in the trial already complete, McKim does not expect this to impact the data or adoption in a negative way. He reiterates an Overweight rating and $67 price target on the shares.

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