Tandem Diabetes Care's stock soared 22.83% during intraday trading on Friday, driven by better-than-expected fourth-quarter financial results and a significant analyst upgrade.
The diabetes technology company reported a Q4 net loss of $0.01 per diluted share, which was much better than the $0.09 per share loss anticipated by analysts. Quarterly sales reached $290.4 million, surpassing the $277 million consensus estimate. The company also provided full-year 2026 sales guidance in the range of approximately $1.07 billion to $1.09 billion.
Adding to the positive sentiment, BofA Securities upgraded Tandem Diabetes Care to Neutral from Underperform and more than doubled its price target to $30 from $15. The upgrade reflects improved confidence in the company's financial performance and outlook.