Brokerages Set Beta Bionics, Inc. (NASDAQ:BBNX) PT at $20.00

Shares of Beta Bionics, Inc. (NASDAQ:BBNX) have earned a consensus rating of “Moderate Buy” from the twelve analysts that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $20.00.

A number of equities research analysts recently commented on the company. Truist Financial decreased their price target on Beta Bionics from $25.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. The Goldman Sachs Group decreased their price objective on Beta Bionics from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. Leerink Partners cut their price target on Beta Bionics from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 22nd. UBS Group raised Beta Bionics to a “strong-buy” rating in a research note on Monday, February 9th. Finally, Weiss Ratings downgraded Beta Bionics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, April 21st.

Beta Bionics Price Performance

NASDAQ BBNX opened at $11.72 on Wednesday. The firm has a market cap of $522.24 million, a PE ratio of -7.76 and a beta of 3.29. Beta Bionics has a one year low of $8.80 and a one year high of $32.71. The stock’s 50 day simple moving average is $10.65 and its 200 day simple moving average is $17.93.

Beta Bionics (NASDAQ:BBNX) last released its quarterly earnings results on Tuesday, April 21st. The company reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($0.53) by $0.04. The business had revenue of $27.63 million for the quarter. Beta Bionics had a negative return on equity of 23.00% and a negative net margin of 60.27%. As a group, equities analysts expect that Beta Bionics will post -2.19 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. GPS Wealth Strategies Group LLC lifted its stake in shares of Beta Bionics by 45.0% in the 3rd quarter. GPS Wealth Strategies Group LLC now owns 1,450 shares of the company’s stock valued at $29,000 after purchasing an additional 450 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Beta Bionics by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 331,623 shares of the company’s stock valued at $10,105,000 after purchasing an additional 931 shares during the period. Deutsche Bank AG lifted its stake in shares of Beta Bionics by 3.4% in the 4th quarter. Deutsche Bank AG now owns 39,300 shares of the company’s stock valued at $1,197,000 after purchasing an additional 1,296 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Beta Bionics by 203.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,377 shares of the company’s stock valued at $47,000 after purchasing an additional 1,594 shares during the period. Finally, Summit Securities Group LLC acquired a new position in shares of Beta Bionics in the 4th quarter valued at $52,000.

Beta Bionics Company Profile

Beta Bionics, a clinical-stage medical device company headquartered in Boston, Massachusetts, is focused on revolutionizing the management of type 1 diabetes through automated insulin delivery solutions. The company’s flagship product, the iLet Bionic Pancreas system, is designed to simplify glycemic control by automatically adjusting insulin dosing in response to continuous glucose monitoring data. By integrating advanced algorithmic control with wearable infusion pumps, the iLet aims to reduce the daily burden of diabetes management and improve clinical outcomes for patients.

At the core of Beta Bionics’ offering is its proprietary bionic pancreas software, which can operate in both insulin-only and dual‐hormone modes.