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.
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