Beta Bionics (NASDAQ:BBNX) Coverage Initiated by Analysts at Leerink Partners

Research analysts at Leerink Partners initiated coverage on shares of Beta Bionics (NASDAQ:BBNX) in a research note issued on Monday, MarketBeat Ratings reports. The firm set an “outperform” rating and a $28.00 price target on the stock. Leerink Partners’ target price would indicate a potential upside of 46.06% from the stock’s previous close.

Several other brokerages have also recently commented on BBNX. Robert W. Baird initiated coverage on Beta Bionics in a report on Thursday, February 20th. They set a “neutral” rating and a $20.00 target price on the stock. Baird R W raised shares of Beta Bionics to a “hold” rating in a report on Thursday, February 20th. Finally, LADENBURG THALM/SH SH began coverage on shares of Beta Bionics in a research report on Thursday, February 20th. They issued a “neutral” rating and a $20.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $24.83.

Beta Bionics Stock Down 6.9 %

NASDAQ BBNX opened at $19.17 on Monday. Beta Bionics has a one year low of $19.08 and a one year high of $24.50.

Insider Activity at Beta Bionics

In other Beta Bionics news, major shareholder Hadley Harbor Aggre Wellington purchased 1,000,000 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was acquired 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 in the company, valued at approximately $66,327,183. This represents a 34.46 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mike Mensinger acquired 33,350 shares of the business’s stock in a transaction that occurred on 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 completion of the acquisition, the insider now directly owns 59,019 shares of the company’s stock, valued at $1,003,323. This trade represents a 129.92 % increase in their ownership of the stock. 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.