Beta Bionics initiated with an Overweight at Piper Sandler

Piper Sandler analyst Matt O’Brien initiated coverage of Beta Bionics (BBNX) with an Overweight rating and $26 price target The company has a “unique, durable” pump that autonomously determines every insulin dose, including meal time bolus, the analyst tells investors in a research note. The firm says this “differentiated offering” has allowed Beta to capture an outsized portion of the type 1 diabetes population during its initial launch, “as patients who want a true hands-off experience now have one.” Piper believes the company will grow 25% or more in the coming years, and anticipates this performance will push shares higher going forward.