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

Stock analysts at Leerink Partners began coverage on shares of Beta Bionics (NASDAQ:BBNX) in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $28.00 price target on the stock. Leerink Partners’ price target suggests a potential upside of 36.12% from the stock’s previous close.

Several other equities research analysts have also issued reports on BBNX. LADENBURG THALM/SH SH started coverage on shares of Beta Bionics in a research note on Thursday. They set a “neutral” rating and a $20.00 price target for the company. Baird R W raised Beta Bionics to a “hold” rating in a research report on Thursday. Finally, Robert W. Baird assumed coverage on Beta Bionics in a research note on Thursday. They issued a “neutral” rating and a $20.00 target price on the stock. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.80.

Beta Bionics Price Performance

NASDAQ BBNX opened at $20.57 on Monday. Beta Bionics has a 52-week low of $20.57 and a 52-week high of $24.50.

Insider Buying and Selling

In related news, major shareholder Hadley Harbor Aggre Wellington bought 1,000,000 shares of the business’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 in the company, valued at $66,327,183. This trade represents a 34.46 % 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, insider Mike Mensinger bought 33,350 shares of Beta Bionics stock in a transaction on Friday, January 31st. The shares were bought at an average cost of $17.00 per share, with a total value of $566,950.00. Following the acquisition, 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 ownership of the stock. 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.