Beta Bionics (NASDAQ:BBNX) Upgraded to “Strong-Buy” at Leerink Partnrs

Beta Bionics (NASDAQ:BBNX) was upgraded by research analysts at Leerink Partnrs to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research firms have also recently commented on BBNX. Bank of America began coverage on Beta Bionics in a research note on Monday. They set a “buy” rating on the stock. Leerink Partners started coverage on shares of Beta Bionics in a research note on Monday. They set an “outperform” rating and a $28.00 price target on the stock. Robert W. Baird initiated coverage on shares of Beta Bionics in a research note on Thursday, February 20th. They issued a “neutral” rating and a $20.00 price objective for the company. Lake Street Capital assumed coverage on shares of Beta Bionics in a research note on Monday. They set a “buy” rating and a $30.00 target price on the stock. Finally, Baird R W upgraded shares of Beta Bionics to a “hold” rating in a research note on Thursday, February 20th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $24.83.

Beta Bionics Trading Down 6.9 %

Shares of BBNX stock opened at $19.17 on Monday. Beta Bionics has a 1-year low of $19.08 and a 1-year high of $24.50.

Insiders Place Their Bets

In other Beta Bionics news, major shareholder Hadley Harbor Aggre Wellington purchased 1,000,000 shares of the business’s stock in a transaction on Friday, January 31st. The shares were bought at an average cost of $17.00 per share, for a total transaction of $17,000,000.00. Following the completion of the purchase, the insider now directly owns 3,901,599 shares in the company, valued at approximately $66,327,183. This represents a 34.46 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mike Mensinger acquired 33,350 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was acquired at an average price of $17.00 per share, for a total transaction of $566,950.00. Following the acquisition, the insider now owns 59,019 shares in the company, valued at approximately $1,003,323. The trade was a 129.92 % increase in their position. The disclosure for this purchase can be found here.

Beta Bionics Company Profile

Beta Bionics, Inc is a commercial-stage medical device company. It engages in the design, development, and commercialization of solutions for insulin-requiring people with diabetes. The company was founded by Edward R. Damiano on October 21, 2015 and is headquartered in Irvine, CA.