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

Shares of Beta Bionics, Inc. (NASDAQ:BBNX) have been given an average recommendation of “Moderate Buy” by the nine ratings firms that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $24.83.

BBNX has been the subject of several research analyst reports. Leerink Partnrs upgraded Beta Bionics to a “strong-buy” rating in a research report on Monday, February 24th. Leerink Partners assumed coverage on Beta Bionics in a report on Monday, February 24th. They issued an “outperform” rating and a $28.00 price target for the company. Robert W. Baird began coverage on shares of Beta Bionics in a report on Thursday, February 20th. They set a “neutral” rating and a $20.00 price objective on the stock. Piper Sandler started coverage on shares of Beta Bionics in a research note on Monday, February 24th. They issued an “overweight” rating and a $26.00 target price for the company. Finally, Stifel Nicolaus assumed coverage on shares of Beta Bionics in a research note on Monday, February 24th. They set a “buy” rating and a $25.00 price target on the stock.

Beta Bionics Stock Up 1.8 %

Shares of Beta Bionics stock opened at $11.14 on Tuesday. Beta Bionics has a 12-month low of $8.89 and a 12-month high of $24.50. The stock’s 50-day moving average price is $15.63.

Beta Bionics (NASDAQ:BBNX) last posted its quarterly earnings data on Tuesday, March 25th. The company reported ($1.82) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($1.40). The firm had revenue of $20.44 million for the quarter, compared to the consensus estimate of $20.01 million.

Insider Transactions at Beta Bionics

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

Hedge Funds Weigh In On Beta Bionics

An institutional investor recently bought a new position in Beta Bionics stock. Rhumbline Advisers bought a new stake in Beta Bionics, Inc. (NASDAQ:BBNX) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,880 shares of the company’s stock, valued at approximately $158,000.

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.