Stifel Nicolaus Initiates Coverage on Beta Bionics (NASDAQ:BBNX)

Equities researchers at Stifel Nicolaus 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 firm set a “buy” rating and a $25.00 price target on the stock. Stifel Nicolaus’ target price points to a potential upside of 21.54% from the stock’s previous close.

A number of other brokerages also recently 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 objective on the stock. Robert W. Baird assumed coverage on Beta Bionics in a research note on Thursday. They set a “neutral” rating and a $20.00 target price for the company. Piper Sandler started coverage on shares of Beta Bionics in a report on Monday. They issued an “overweight” rating and a $26.00 target price for the company. Baird R W raised shares of Beta Bionics to a “hold” rating in a report on Thursday. Finally, Leerink Partners started coverage on shares of Beta Bionics in a research report on Monday. They set an “outperform” rating and a $28.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.80.

Beta Bionics Stock Down 1.4 %

Beta Bionics stock opened at $20.57 on Monday. Beta Bionics has a one year low of $20.57 and a one year high of $24.50.

Insider Activity at Beta Bionics

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