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

Beta Bionics, Inc. (NASDAQ:BBNX) has been given an average recommendation of “Moderate Buy” by the nine ratings firms that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $24.83.

A number of research firms have recently commented on BBNX. Stifel Nicolaus initiated coverage on shares of Beta Bionics in a research report on Monday, February 24th. They issued a “buy” rating and a $25.00 price objective for the company. Baird R W upgraded shares of Beta Bionics to a “hold” rating in a research report on Thursday, February 20th. Bank of America began coverage on shares of Beta Bionics in a report on Monday, February 24th. They issued a “buy” rating on the stock. LADENBURG THALM/SH SH assumed coverage on Beta Bionics in a research note on Thursday, February 20th. They set a “neutral” rating and a $20.00 price objective for the company. Finally, Piper Sandler started coverage on Beta Bionics in a research note on Monday, February 24th. They issued an “overweight” rating and a $26.00 target price on the stock.

Beta Bionics Trading Down 3.7 %

Shares of NASDAQ BBNX opened at $12.67 on Friday. Beta Bionics has a fifty-two week low of $12.11 and a fifty-two week high of $24.50.

Beta Bionics (NASDAQ:BBNX) last issued its earnings results on Tuesday, March 25th. The company reported ($1.82) EPS for the quarter, missing the consensus estimate of ($0.42) by ($1.40). The business had revenue of $20.44 million during the quarter, compared to analyst estimates of $20.01 million.

Insider Activity at Beta Bionics

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

About Beta Bionics

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.