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.
Published first on TheFly
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