Truist raised the firm’s price target on Beta Bionics (BBNX) to $28 from $21 and keeps a Buy rating on the shares. The battery in the disposable component of the Mint Patch Pump is a competitive form factor advantage vs other 2-piece systems as it does not require a patient to regularly charge the device, which can often be a pain point for everyday use, the analyst tells investors in a research note. Mint is set to compete in the “true” patch pump category, and the management believes its differentiated 2-piece form factor design paired with the “hands-off” ilet algorithm, should screen favorably with all cohorts of insulin dependent diabetes patients, the firm added.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BBNX:
- Leerink says removal of C-peptide requirement would benefit pump market, Tandem
- Beta Bionics management to meet virtually with Lake Street
- Beta Bionics Reports Record Growth in Earnings Call
- Beta Bionics, Inc.: Strong Commercial Execution and Promising Growth Prospects Drive Buy Rating
- Beta Bionics price target raised to $21 from $18 at Truist