Truist initiated coverage of Beta Bionics (BBNX) with a Buy rating and $26 price target Beta Bionics is the newest U.S. pump entrant with an algorithm focusing on ease-of-use and simpler setup for both patients and clinicians with competitive outcomes, and the firm’s physician feedback suggests iLet and Beta Bionics’ focuses align with unmet needs around automation, reduced setup, and future glucagon/insulin delivery, the analyst tells investors in a research note. The firm sees Beta Bionics increasing U.S. share to 5%-6% by 2028 within a $3B U.S. pump market and fueling a 37%+ 2024-2028 revenue compound annual growth rate.
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