Beta Bionics, Inc. (NASDAQ:BBNX) Receives Average Rating of “Moderate Buy” from Brokerages

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

Several analysts have recently commented on BBNX shares. LADENBURG THALM/SH SH began coverage on Beta Bionics in a report on Thursday, February 20th. They set a “neutral” rating and a $20.00 price objective for the company. Leerink Partnrs upgraded shares of Beta Bionics to a “strong-buy” rating in a report on Monday, February 24th. Robert W. Baird began coverage on shares of Beta Bionics in a report on Thursday, February 20th. They issued a “neutral” rating and a $20.00 price target for the company. Piper Sandler began coverage on Beta Bionics in a research report on Monday, February 24th. They issued an “overweight” rating and a $26.00 target price on the stock. Finally, Stifel Nicolaus assumed coverage on Beta Bionics in a report on Monday, February 24th. They set a “buy” rating and a $25.00 target price for the company.

Insider Activity at Beta Bionics

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

Beta Bionics Price Performance

BBNX opened at $15.22 on Friday. Beta Bionics has a one year low of $13.64 and a one year high of $24.50.

Beta Bionics (NASDAQ:BBNX) last issued its earnings results on Tuesday, March 25th. The company reported ($1.82) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.42) by ($1.40).

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.