Needham & Company Starts Inogen, Inc (INGN) at Strong Buy

Needham & Company initiates coverage on Inogen, Inc (NASDAQ: INGN) with a Strong Buy rating and a price target of $32.00.

Analyst Mike Matson states, "We believe INGN is selling a disruptive technology (portable oxygen concentrators or POCs) through a disruptive business model (direct to consumers). INGN's POCs enable increased mobility for patients while providing a cost advantage to INGN. The cost advantage has enabled INGN to win a large number of contracts under Medicare's competitive bidding program. INGN's attractive products and ability to market them directly to patients are driving strong revenue growth while its cost advantages are enabling attractive margins. Given this, and a valuation that is at a discount to peers, we are initiating coverage with a Strong Buy rating."

For an analyst ratings summary and ratings history on Inogen, Inc click here. For more ratings news on Inogen, Inc click here.

Shares of Inogen, Inc closed at $23.61 yesterday.

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