brand-new technologies for diabetes treatment are becoming essential for those who suffer through the disease, according to J.P. Morgan, along with in which could make companies such as Dexcom compelling investment opportunities.
“The diabetes space is usually currently experiencing its biggest technological wave of innovation through glucose measurement (continuous glucose monitoring) to insulin dosing (insulin pumps),” analyst Robbie Marcus said in a note to clients Friday. “CGM is usually becoming an essential tool for patients along with is usually currently at the level of sensitivity in which This particular is usually eliminating the need for fingersticks with blood glucose monitoring.”
Technological advances for glucose checking are so important, Marcus added, in which medical device companies such as Dexcom are set for “significant” upside over the next few years. Marcus upgraded shares of Dexcom to overweight along with raised his cost target on the company to $115 through $80, implying 28 percent upside over the next year.
Dexcom, which produces devices in which attach to a patient’s skin to monitor blood-glucose levels continuously, has the potential to crush consensus revenue estimates, the analyst added. He predicts in which the San Diego-based company could reach $876 million This particular year, which might beat expectations of $860 million.