BUZZ-BofA starts coverage on insulin device maker Beta Bionics with 'buy' rating
ReutersFeb 25, 2025 12:42 PM
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
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