Leerink Partnrs Upgrades Beta Bionics (NASDAQ:BBNX) to “Strong-Buy”

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

Other equities analysts have also recently issued reports about 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 target on the stock. Stifel Nicolaus initiated coverage on shares of Beta Bionics in a research note on Monday. They set a “buy” rating and a $25.00 price objective for the company. LADENBURG THALM/SH SH assumed coverage on shares of Beta Bionics in a report on Thursday, February 20th. They issued a “neutral” rating and a $20.00 price target on the stock. Leerink Partners assumed coverage on Beta Bionics in a research note on Monday. They issued an “outperform” rating and a $28.00 target price for the company. Finally, Piper Sandler assumed coverage on Beta Bionics in a research report on Monday. They set an “overweight” rating and a $26.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $24.83.

Beta Bionics Price Performance

Shares of Beta Bionics stock opened at $20.60 on Monday. Beta Bionics has a 12 month low of $20.00 and a 12 month high of $24.50.

Insider Activity

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