Beta Bionics, Inc. (NASDAQ:BBNX) Receives $24.83 Average Price Target from Analysts

Shares of Beta Bionics, Inc. (NASDAQ:BBNX) have received a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $24.83.

Several research analysts have recently weighed in on the stock. Leerink Partnrs raised shares of Beta Bionics to a “strong-buy” rating in a research report on Monday, February 24th. Leerink Partners initiated coverage on shares of Beta Bionics in a research note on Monday, February 24th. They issued an “outperform” rating and a $28.00 price target for the company. Baird R W raised shares of Beta Bionics to a “hold” rating in a research report on Thursday, February 20th. LADENBURG THALM/SH SH began coverage on Beta Bionics in a research report on Thursday, February 20th. They issued a “neutral” rating and a $20.00 price objective for the company. Finally, Robert W. Baird initiated coverage on Beta Bionics in a research report on Thursday, February 20th. They issued a “neutral” rating and a $20.00 target price on the stock.

Beta Bionics Stock Down 3.8 %

NASDAQ BBNX opened at $15.10 on Friday. Beta Bionics has a fifty-two week low of $13.64 and a fifty-two week high of $24.50.

Insider Activity at Beta Bionics

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