Pear Therapeutics moved to no rating at BofA

BofA moved Pear Therapeutics to no rating after the company announced that it is in the process of exploring strategic alternatives. Pear faces an uncertain near-term as payors have not elected to cover its prescription digital therapeutics, the analyst tells investors in a research note. The withdrawal of 2022 and 2023 guidance, combined with the lack of a Q4 earnings call, add greater uncertainty to the company’s revenue trajectory over the next few years, says the firm. It says Pear is unlikely to trade on fundamentals in the near-term.