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

Equities researchers at Leerink Partners assumed coverage on shares of Beta Bionics (NASDAQ:BBNX) in a research report issued on Monday, Marketbeat reports. The brokerage set an “outperform” rating and a $28.00 price target on the stock. Leerink Partners’ target price suggests a potential upside of 46.06% from the company’s previous close.

A number of other research firms have also commented on BBNX. Robert W. Baird started coverage on Beta Bionics in a research note on Thursday, February 20th. They issued a “neutral” rating and a $20.00 price objective on the stock. LADENBURG THALM/SH SH started coverage on Beta Bionics in a research report on Thursday, February 20th. They issued a “neutral” rating and a $20.00 price target on the stock. Finally, Baird R W upgraded Beta Bionics to a “hold” rating in a report on Thursday, February 20th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Beta Bionics currently has a consensus rating of “Moderate Buy” and an average price target of $24.83.

Beta Bionics Price Performance

NASDAQ:BBNX opened at $19.17 on Monday. Beta Bionics has a 1 year low of $19.08 and a 1 year high of $24.50.

Insiders Place Their Bets

In other Beta Bionics news, major shareholder Hadley Harbor Aggre Wellington purchased 1,000,000 shares of the stock in a transaction on Friday, January 31st. The shares were purchased at an average price of $17.00 per share, with a total value 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. This represents a 34.46 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mike Mensinger acquired 33,350 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was acquired at an average price of $17.00 per share, with a total value of $566,950.00. Following the purchase, the insider now owns 59,019 shares in the company, valued at approximately $1,003,323. This represents a 129.92 % increase in their position. 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.