---
title: "Analyst Maintains Hold on Inspire as Reimbursement Uncertainty Persists; $53 Price Target Reaffirmed"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286682690.md"
description: "Analyst Travis Steed from Bank of America Securities has reiterated a Hold rating on Inspire Medical Systems, maintaining a price target of $53. The decision is influenced by reimbursement uncertainties following the AMA's recent coding decision, which limits near- to medium-term visibility. The potential delay in new codes and reimbursement changes could extend uncertainty to 2029, leading Steed to view the risk/reward as balanced."
datetime: "2026-05-17T21:06:18.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286682690.md)
  - [en](https://longbridge.com/en/news/286682690.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286682690.md)
---

# Analyst Maintains Hold on Inspire as Reimbursement Uncertainty Persists; $53 Price Target Reaffirmed

Analyst Travis Steed from Bank of America Securities reiterated a Hold rating on Inspire Medical Systems and keeping the price target at $53.00.

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Travis Steed has given his Hold rating due to a combination of factors, primarily revolving around reimbursement uncertainty following the AMA’s recent coding decision. The AMA declined to introduce a new Category I CPT code for Inspire’s single-lead hypoglossal nerve stimulation system and instead moved to revise existing codes to explicitly carve out HGNS starting in early 2027, leaving near- to medium-term coding visibility limited.

Travis also notes that while Inspire can revise and resubmit its proposal for the September CPT meeting, missing approval there would delay any new code and related reimbursement changes to 2029, extending the period of uncertainty. Given that a future RUC process could either enhance or potentially reduce physician fees, and with shares already reflecting some recovery potential at a $53 price target, he views the risk/reward as balanced and therefore maintains a Neutral (Hold) stance.

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