Pear Therapeutics closed up 25% on Monday: explained here

Shares of Pear Therapeutics Inc (NASDAQ: PEAR) closed up nearly 25% on Monday after BTIG said the Boston-headquartered company was the best positioned in the prescription digital therapeutics (PDT) space.

BTIG’s Marie Thibault sees a 60% upside

On Monday, analyst Marie Thibault assumed coverage of the stock with a “buy” rating and a price target of $12 a share that represents a 60% upside from here. In her note, Thibault wrote:

Pear Therapeutics listed on the Nasdaq Stock Exchange last month via a SPAC merger with Thimble Point Acquisition Corp that generated roughly $175 million.

Other reasons why she likes Pear Therapeutics

Currently, Pear has three commercial, FDA authorised PDTs in the market that treat chronic insomnia, opioid use, and drug addiction. Thibault agreed there were risks associated with PDTs, including rate of commercial adoption, but said:

Her bullish call is in line with Citigroup’s Neena Bitritto-Garg, who also initiated coverage of Pear last week with an even higher price target of $13 a share. In December, Pear Therapeutics acquired a digital therapeutic for depression from Waypoint Health Innovations.