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

Shares of Beta Bionics, Inc. (NASDAQ:BBNX) have been given a consensus rating of “Moderate Buy” by the nine analysts that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts 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. Bank of America began coverage on Beta Bionics in a report on Monday, February 24th. They issued a “buy” rating for the company. Leerink Partners started coverage on shares of Beta Bionics in a report on Monday, February 24th. They issued an “outperform” rating and a $28.00 target price on the stock. Leerink Partnrs upgraded shares of Beta Bionics to a “strong-buy” rating in a research report on Monday, February 24th. Stifel Nicolaus started coverage on shares of Beta Bionics in a research report on Monday, February 24th. They issued a “buy” rating and a $25.00 price target for the company. Finally, Robert W. Baird assumed coverage on shares of Beta Bionics in a research report on Thursday, February 20th. They set a “neutral” rating and a $20.00 price objective on the stock.

Insider Activity at Beta Bionics

In other Beta Bionics news, insider Mike Mensinger acquired 33,350 shares of Beta Bionics stock in a transaction dated Friday, January 31st. The stock was bought at an average cost of $17.00 per share, for a total transaction of $566,950.00. Following the purchase, the insider now directly owns 59,019 shares in the company, valued at approximately $1,003,323. This represents a 129.92 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Hadley Harbor Aggre Wellington acquired 1,000,000 shares of the company’s stock in a transaction on Friday, January 31st. The stock was acquired at an average price 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 of the company’s stock, valued at approximately $66,327,183. This trade represents a 34.46 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Beta Bionics Price Performance

Shares of 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 posted its quarterly earnings results on Tuesday, March 25th. The company reported ($1.82) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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.