On May 30, Wolfe Research began coverage on Beta Bionics, Inc. (NASDAQ:BBNX)’s stock with an “Outperform” rating and a price objective of $20, as reported by The Fly.
A closeup shot of a laboratory technician handling a medical device used for fertility treatments.
As per the analyst, the insulin pumps are a double-digit growth category, with the company taking share from the low base. The firm believes that Beta Bionics, Inc.’s revenue in the US pump market witnessed a growth of low-to-mid-teens over the previous 3 years.
Also, the firm opines that Beta Bionics, Inc.’s differentiated user experience and pharmacy preferred access strategy are helping to continue the growth momentum, which is faster than the broad-based category growth. Effective February 1, 2025, Prime Therapeutics added the iLet Bionic Pancreas and related monthly supplies to its largest national commercial formulary.
Beta Bionics, Inc. continues to work with the health plans which partner with Prime Therapeutics to drive coverage of iLet under their pharmacy benefit. In Q1 2025, the company’s net sales came in at $17.6 million, reflecting a rise of 36% as compared to $12.9 million in Q1 2024, with Durable Medical Equipment (DME) channel net sales rising 14% YoY and Pharmacy Benefit Plan (PBP) channel net sales increasing 360% YoY.
For FY 2025, Beta Bionics, Inc. expects total revenue of ~$82 million – $87 million, an increase from the prior range of $80 million – $85 million.
Beta Bionics, Inc. is a commercial-stage medical device company that is engaged in designing, developing, and commercializing innovative solutions to improve the health of insulin-requiring people with diabetes (PWD) by using advanced adaptive closed-loop algorithms to simplify and improve the treatment of the disease.
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