Piper Jaffray analyst JP McKim recommends taking advantage of the post-earnings weakness today in shares of Tandem Diabetes. The company reported Q3 results that "probably fell a bit short of heightened expectations," McKim tells investors in a research note. Further, management did not increase its guidance range for the year, marking the first time in several quarters this was the case, adds the analyst. However, he believes the reasons for this "are completely explainable" as the combination for delays in purchasing Control-IQ in the U.S. and Basal-IQ internationally resulted in some lost near term sales. McKim believes these are "short-term issues that will be rectified quickly." He lowered his price target for Tandem Diabetes shares to $70 from $80 but keeps an Overweight rating on the name.

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