Beta Bionics (NASDAQ:BBNX) Raised to Strong-Buy at Leerink Partnrs

Beta Bionics (NASDAQ:BBNX) was upgraded by analysts at Leerink Partnrs to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Other analysts have also issued reports about the company. Stifel Nicolaus assumed coverage on Beta Bionics in a report on Monday. They set a “buy” rating and a $25.00 target price on the stock. Robert W. Baird started coverage on shares of Beta Bionics in a research note on Thursday, February 20th. They set a “neutral” rating and a $20.00 price objective on the stock. Leerink Partners initiated coverage on shares of Beta Bionics in a research note on Monday. They issued an “outperform” rating and a $28.00 target price for the company. Baird R W raised shares of Beta Bionics to a “hold” rating in a report on Thursday, February 20th. Finally, Lake Street Capital started coverage on shares of Beta Bionics in a report on Monday. They issued a “buy” rating and a $30.00 price objective for the company. 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.83.

Beta Bionics Stock Performance

Shares of BBNX opened at $19.17 on Monday. Beta Bionics has a fifty-two week low of $19.08 and a fifty-two week high of $24.50.

Insider Activity at Beta Bionics

In other news, insider Mike Mensinger purchased 33,350 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average cost of $17.00 per share, for a total transaction of $566,950.00. Following the completion of the transaction, the insider now owns 59,019 shares of the company’s stock, valued at $1,003,323. This trade represents a 129.92 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Hadley Harbor Aggre Wellington acquired 1,000,000 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was purchased at an average price of $17.00 per share, for a total transaction of $17,000,000.00. Following the acquisition, the insider now directly owns 3,901,599 shares in the company, valued at $66,327,183. This represents a 34.46 % 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.