Beta Bionics initiated with a Buy at Stifel

Stifel initiated coverage of Beta Bionics (BBNX) with a Buy rating and $25 price target The insulin-dependent diabetes opportunity is “large an still underpenetrated,” and Beta’s iLet comes to market with key product differentiation, addressing still-outstanding shortcomings of existing automated insulin delivery pump technology, including ease of use, the analyst tells investors in a research note. The firm believes this differentiation will drive both incremental pump penetration and new patient share wins for the company.