Beta Bionics initiated with a Hold at TD Cowen

TD Cowen initiated coverage of Beta Bionics (BBNX) with a Hold rating and $17 price target The company’s year-one as a public name was successful, highlighted by financial upside and about 10% NRx share, though the firm sees revenue out-performance continuing as iLet differentiation compels adoption and the pipeline progresses, even as survey work appears to suggest a deceleration of NRx share gains, the analyst tells investors in a research note. TD Cowen adds that it sees 2026 revenue upside potential, though “not enough to sustain an outsized multiple.”