BUZZ-Wall Street bullish on insulin device maker Beta Bionics after IPO

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