Beta Bionics, Inc. (NASDAQ:BBNX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Beta Bionics, Inc. (NASDAQ:BBNX) have earned a consensus rating of “Moderate Buy” from the twelve research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $20.00.

A number of research analysts have recently weighed in on the stock. Robert W. Baird dropped their price objective on shares of Beta Bionics from $28.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, February 18th. Lake Street Capital set a $20.00 price objective on shares of Beta Bionics in a research note on Wednesday, February 18th. Stifel Nicolaus dropped their price objective 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, April 22nd. The Goldman Sachs Group dropped their price objective on shares of Beta Bionics from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Finally, TD Cowen assumed coverage on shares of Beta Bionics in a research note on Monday, January 26th. They set a “hold” rating and a $17.00 price objective for the company.

Beta Bionics Stock Performance

Shares of Beta Bionics stock opened at $9.40 on Wednesday. The company has a 50-day moving average of $10.59 and a two-hundred day moving average of $18.49. Beta Bionics has a 12-month low of $8.80 and a 12-month high of $32.71. The stock has a market cap of $418.86 million, a PE ratio of -6.23 and a beta of 3.29.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Essex Investment Management Co. LLC purchased a new stake in Beta Bionics in the 3rd quarter worth approximately $4,423,000. JPMorgan Chase & Co. grew its stake in Beta Bionics by 3,238.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 205,955 shares of the company’s stock worth $4,092,000 after acquiring an additional 199,785 shares during the period. Pura Vida Investments LLC grew its stake in Beta Bionics by 11,150.0% in the 3rd quarter. Pura Vida Investments LLC now owns 281,250 shares of the company’s stock worth $5,588,000 after acquiring an additional 278,750 shares during the period. Farallon Capital Management LLC grew its stake in Beta Bionics by 2.6% in the 3rd quarter. Farallon Capital Management LLC now owns 4,313,920 shares of the company’s stock worth $85,718,000 after acquiring an additional 110,000 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Beta Bionics in the 4th quarter worth approximately $4,579,000.

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.