Leerink Partners Cuts Beta Bionics (NASDAQ:BBNX) Price Target to $24.00

Beta Bionics (NASDAQ:BBNX) had its price objective cut by Leerink Partners from $25.00 to $24.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages also recently commented on BBNX. Lake Street Capital set a $20.00 target price on shares of Beta Bionics in a research note on Wednesday, February 18th. TD Cowen started coverage on shares of Beta Bionics in a research note on Monday, January 26th. They set a “hold” rating and a $17.00 target price for the company. UBS Group upgraded shares of Beta Bionics to a “strong-buy” rating in a research note on Monday, February 9th. Stifel Nicolaus lowered their target price on shares of Beta Bionics from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Truist Financial lowered their target price on shares of Beta Bionics from $25.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.00.

Beta Bionics Trading Down 2.3%

Shares of BBNX stock opened at $11.17 on Wednesday. The firm has a fifty day moving average price of $11.45 and a 200 day moving average price of $19.79. The company has a market cap of $497.74 million, a P/E ratio of -7.40 and a beta of 5.06. Beta Bionics has a 12 month low of $8.80 and a 12 month high of $32.71.

Beta Bionics (NASDAQ:BBNX) last issued its 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 firm had revenue of $27.63 million during the quarter. Beta Bionics had a negative net margin of 60.27% and a negative return on equity of 23.00%. On average, equities analysts forecast that Beta Bionics will post -2.14 EPS for the current year.

Institutional Investors Weigh In On Beta Bionics

A number of institutional investors and hedge funds have recently bought and sold shares of BBNX. Vanguard Group Inc. lifted its position in Beta Bionics by 213.5% in the third quarter. Vanguard Group Inc. now owns 2,216,185 shares of the company’s stock valued at $44,036,000 after acquiring an additional 1,509,217 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Beta Bionics in the fourth quarter valued at $40,437,000. Eversept Partners LP purchased a new stake in Beta Bionics in the fourth quarter valued at $20,667,000. 12 West Capital Management LP purchased a new stake in shares of Beta Bionics in the fourth quarter valued at about $17,520,000. Finally, Soleus Capital Management L.P. raised its holdings in shares of Beta Bionics by 12.5% in the second quarter. Soleus Capital Management L.P. now owns 3,820,158 shares of the company’s stock valued at $55,622,000 after buying an additional 424,817 shares during the last quarter.

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.