BofA starts coverage on insulin device maker Beta Bionics with 'buy' rating
25/02/2025 12:42
** BofA Global Research starts coverage on insulin device
maker Beta Bionics BBNX.O with "buy" rating and $25 PT, citing
its "differentiated closed-loop algorithm" that simplifies
insulin-dosing for diabetic patients
** PT represents a 21.4% upside to stock's last close
** Brokerage believes BBNX will help expand the current $2
billion U.S. insulin pump market, which has only seen 7%
penetration growth in seven years
** Co's iLet insulin pump's simplicity can help those taking
daily insulin injections switch to a simpler way - BofA
** Brokerage expects BBNX's revenue to grow by $15 mln in
2025 and $26 mln in 2026
** Stock has fallen 12.8% since its Nasdaq debut on 30 Jan
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com;))