** Wall Street brokerages start coverage of insulin device maker, Beta Bionics BBNX.O, on a bullish note as IPO research quiet period ends

** Stifel starts coverage with "buy" rating and $25 PT, a 20% upside to the stock's last close

** Brokerage says the market for insulin-dependent diabetes is still large and has room for growth

** Co is a "serial innovator with a robust pipeline," including a patch and a bihormonal pump that delivers both glucagon and insulin. This pipeline has the potential to disrupt the market over the next five years, say Stifel analysts

** Piper Sandler starts coverage with "overweight" rating and $26 PT, a 22% upside to the stock's last close

** "We believe the upcoming type 2 diabetes approval and patch pump in 2027 is a robust opportunity that can further accelerate revenue"- Piper Sandler

** BofA Securities, Piper Sandler, Leerink Partners, Stifel and Lake Street were the underwriters for the IPO

** Stock has fallen 14.9% since its Nasdaq debut on 30 January

(Reporting by Padmanabhan Ananthan)

((Padmanabhan.Ananthan@thomsonreuters.com;))