Wells Fargo downgraded Tandem Diabetes Care (Nasdaq:TNDM) as competitors apply pressure to the automated insulin delivery technology developer.
According to SeekingAlpha, analysts led by Larry Biegelsen moved Tandem from “Overweight” to “Underweight” due to bullish expectations on Wall Street as the company’s competition, including Insulet and Medtronic, come to the fore. The street responded in kind, with shares of TNDM down 6.8% at $56 per share in early-morning trading today.
Get the full story at our sister site, Drug Delivery Business News.