Wolfe Research last night initiated coverage of Beta Bionics (BBNX) with an Outperform rating and $20 price target Insulin pumps are a double-digit growth category and Beta from a low base is taking share, the analyst tells investors in a research note. The firm says the company’s revenue in the U.S. pump market has grown low-to-mid-teens over the last three years. Wolfe believes Beta Bionics’ “differentiated” user experience and pharmacy preferred access strategy support continuation of faster than category-growth.
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