Wall Street bullish on insulin device maker Beta Bionics after IPO
24/02/2025 15:34
** Wall Street brokerages start coverage of insulin device
maker, Beta Bionics BBNX.O , on a bullish note as IPO research
quiet period ends
** Stifel starts coverage with "buy" rating and $25 PT, a
20% upside to the stock's last close
** Brokerage says the market for insulin-dependent diabetes
is still large and has room for growth
** Co is a "serial innovator with a robust pipeline,"
including a patch and a bihormonal pump that delivers both
glucagon and insulin. This pipeline has the potential to disrupt
the market over the next five years, say Stifel analysts
** Piper Sandler starts coverage with "overweight" rating
and $26 PT, a 22% upside to the stock's last close
** "We believe the upcoming type 2 diabetes approval and
patch pump in 2027 is a robust opportunity that can further
accelerate revenue"- Piper Sandler
** BofA Securities, Piper Sandler, Leerink Partners, Stifel
and Lake Street were the underwriters for the IPO
** Stock has fallen 14.9% since its Nasdaq debut on 30
January
(Reporting by Padmanabhan Ananthan)
((Padmanabhan.Ananthan@thomsonreuters.com;))