Analysts Set Beta Bionics, Inc. (NASDAQ:BBNX) PT at $24.83

Beta Bionics, Inc. (NASDAQ:BBNX - Get Free Report) has received an average recommendation of "Moderate Buy" from the nine brokerages that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $24.83.

Several brokerages recently weighed in on BBNX. Lake Street Capital began coverage on Beta Bionics in a report on Monday, February 24th. They set a "buy" rating and a $30.00 target price for the company. Bank of America assumed coverage on Beta Bionics in a research note on Monday, February 24th. They set a "buy" rating for the company. Leerink Partners assumed coverage on shares of Beta Bionics in a research note on Monday, February 24th. They issued an "outperform" rating and a $28.00 target price on the stock. Stifel Nicolaus started coverage on shares of Beta Bionics in a research report on Monday, February 24th. They set a "buy" rating and a $25.00 price target for the company. Finally, LADENBURG THALM/SH SH initiated coverage on shares of Beta Bionics in a research report on Thursday, February 20th. They issued a "neutral" rating and a $20.00 price objective on the stock.

Beta Bionics Price Performance

Shares of BBNX stock traded up $0.37 during trading hours on Friday, hitting $15.22. 419,214 shares of the company's stock were exchanged, compared to its average volume of 458,440. Beta Bionics has a 12-month low of $13.64 and a 12-month high of $24.50.

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Beta Bionics (NASDAQ:BBNX - Get Free Report) last released 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).

Insider Transactions at Beta Bionics

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