Beta Bionics, Inc. (NASDAQ:BBNX) Given Average Rating of “Moderate Buy” by Analysts

Beta Bionics, Inc. (NASDAQ:BBNX) has earned an average rating of “Moderate Buy” from the nine brokerages that are covering the stock, Marketbeat.com reports. Three 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 twelve-month target price among analysts that have issued a report on the stock in the last year is $24.83.

BBNX has been the subject of a number of recent analyst reports. Baird R W raised Beta Bionics to a “hold” rating in a research report on Thursday, February 20th. Stifel Nicolaus began 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. Leerink Partnrs raised Beta Bionics to a “strong-buy” rating in a research note on Monday, February 24th. LADENBURG THALM/SH SH started 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. Finally, Leerink Partners began coverage on shares of Beta Bionics in a report on Monday, February 24th. They issued an “outperform” rating and a $28.00 price objective for the company.

Beta Bionics Stock Performance

Shares of NASDAQ BBNX opened at $12.67 on Friday. Beta Bionics has a 52 week low of $12.11 and a 52 week high of $24.50.

Beta Bionics (NASDAQ:BBNX) last released its quarterly earnings data 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). The business had revenue of $20.44 million for the quarter, compared to analysts’ expectations of $20.01 million.

Insider Buying and Selling at Beta Bionics

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