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Research analysts at Bank of America Corp. started coverage on shares of Neutral Tandem (NASDAQ:TNDM) in a report released on Monday, AnalystRatingsNetwork.com reports. The firm set a “neutral” rating and a $27.00 price target on the stock. Bank of America Corp.’s price objective would indicate a potential upside of 8.91% from the company’s current price.

The analysts wrote, “We are initiating coverage on TNDM, maker of the first truly consumer friendly durable insulin pump, with a Neutral rating and a $27 PO. TNDM is poised to take meaningful share of this $1.2 bn U.S. market in our view, but the stock has appreciated almost 70% since its recent IPO and now trades at an EV/sales multiple of 10.3x our 2014 # and 6.3x our 2015 estimate. Our $27 PO assumes TNDM trades at about 6.9x 2015 EV/sales, a premium to patch pump player PODD and a discount to DXCM. Our Neutral rating is due entirely to TNDM’s recent run up and the early stage of its commercial development.”

Several other analysts have also recently commented on the stock. Analysts at Stifel Nicolaus initiated coverage on shares of Neutral Tandem in a research note to investors on Monday. They set a “buy” rating and a $30.00 price target on the stock. Separately, analysts at Deutsche Bank initiated coverage on shares of Neutral Tandem in a research note to investors on Monday. They set a “hold” rating and a $26.00 price target on the stock. Finally, analysts at Piper Jaffray initiated coverage on shares of Neutral Tandem in a research note to investors on Monday. They set an “overweight” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $27.67.

Shares of Neutral Tandem (NASDAQ:TNDM) traded down 4.44% on Monday, hitting $23.69. The stock had a trading volume of 78,114 shares. Neutral Tandem has a 52 week low of $18.61 and a 52 week high of $25.94. The stock’s 50-day moving average is $21.76 and its 200-day moving average is $21.76. The company’s market cap is $5.4 million.

Neutral Tandem, Inc provides tandem interconnection services principally to competitive carriers, including wireless, wireline, cable and broadband telephony companies.

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