Analyst Mike Kratky of Leerink Partners reiterated a Buy rating on Beta Bionics, Inc., boosting the price target to $28.00.
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Mike Kratky has given his Buy rating due to a combination of factors that highlight Beta Bionics, Inc.’s strong commercial execution and promising growth prospects. The company reported impressive second-quarter results, surpassing sales expectations with significant contributions from both durable medical equipment and pharmacy sales. The pharmacy segment, in particular, is scaling faster than anticipated, supported by comprehensive formulary agreements with major US pharmacy benefit managers, which enhances revenue and margin potential.
Furthermore, Beta Bionics is on track with its strategic initiatives, including the anticipated launch of the Mint patch and advancements in bihormonal pump technology and Type 2 diabetes indications. These developments, coupled with an attractive valuation, present a favorable risk/reward scenario. The company’s raised guidance for fiscal year 2025, reflecting increased sales, gross margins, and pharmacy mix, further underscores its potential to outperform in the coming years.
Kratky covers the Healthcare sector, focusing on stocks such as NeuroPace, Edwards Lifesciences, and Intuitive Surgical. According to TipRanks, Kratky has an average return of 10.9% and a 47.20% success rate on recommended stocks.
In another report released yesterday, Lake Street also reiterated a Buy rating on the stock with a $30.00 price target.