Bank of America Forecasts Strong Price Appreciation for Beta Bionics (NASDAQ:BBNX) Stock

Beta Bionics (NASDAQ:BBNX) had its target price boosted by investment analysts at Bank of America from $30.00 to $33.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price objective would indicate a potential upside of 12.82% from the company’s previous close.

BBNX has been the subject of several other research reports. Lake Street Capital reissued a “buy” rating and issued a $35.00 price target on shares of Beta Bionics in a research note on Wednesday, October 29th. The Goldman Sachs Group boosted their price target on shares of Beta Bionics from $26.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Robert W. Baird set a $28.00 target price on shares of Beta Bionics in a report on Tuesday, December 16th. Piper Sandler reaffirmed an “overweight” rating and set a $32.00 price target (up previously from $26.00) on shares of Beta Bionics in a research report on Wednesday, October 29th. Finally, Wall Street Zen raised Beta Bionics from a “strong sell” rating to a “hold” rating in a research report on Saturday, November 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Beta Bionics presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.70.

Beta Bionics Stock Performance

BBNX stock opened at $29.25 on Monday. Beta Bionics has a 52 week low of $8.89 and a 52 week high of $32.71. The company’s 50-day simple moving average is $28.97 and its 200 day simple moving average is $21.93. The company has a market capitalization of $1.29 billion and a PE ratio of -6.69.

Beta Bionics (NASDAQ:BBNX) last released its earnings results on Tuesday, October 28th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.12. The firm had revenue of $27.25 million for the quarter, compared to analyst estimates of $23.92 million. Beta Bionics had a negative net margin of 87.89% and a negative return on equity of 35.72%.

Insider Activity at Beta Bionics

In related news, insider Mike Mensinger sold 1,063 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $29.34, for a total value of $31,188.42. Following the transaction, the insider owned 90,752 shares in the company, valued at approximately $2,662,663.68. This represents a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Adam Lezack sold 1,406 shares of the company’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $26.87, for a total value of $37,779.22. Following the transaction, the director directly owned 9,841 shares in the company, valued at $264,427.67. This represents a 12.50% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 5,302 shares of company stock worth $148,671.

Institutional Investors Weigh In On Beta Bionics

Several institutional investors have recently made changes to their positions in BBNX. GPS Wealth Strategies Group LLC grew its holdings in Beta Bionics by 45.0% during the 3rd quarter. GPS Wealth Strategies Group LLC now owns 1,450 shares of the company’s stock valued at $29,000 after buying an additional 450 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Beta Bionics by 203.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,377 shares of the company’s stock worth $47,000 after acquiring an additional 1,594 shares during the period. Strs Ohio purchased a new stake in Beta Bionics in the 1st quarter worth approximately $29,000. Ameritas Investment Partners Inc. boosted its holdings in Beta Bionics by 139.1% in the 3rd quarter. Ameritas Investment Partners Inc. now owns 3,202 shares of the company’s stock valued at $64,000 after purchasing an additional 1,863 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of Beta Bionics by 197.4% in the second quarter. Legal & General Group Plc now owns 3,976 shares of the company’s stock worth $58,000 after purchasing an additional 2,639 shares during the period.

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.