Beta Bionics (NASDAQ:BBNX) Price Target Lowered to $11.00 at Bank of America

Beta Bionics (NASDAQ:BBNX) had its price target decreased by investment analysts at Bank of America from $23.00 to $11.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Bank of America‘s target price would suggest a potential upside of 19.70% from the company’s previous close.

A number of other analysts also recently commented on the company. UBS Group upgraded Beta Bionics to a “strong-buy” rating in a research report on Monday, February 9th. Stifel Nicolaus decreased their target price on Beta Bionics from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, April 22nd. Leerink Partners decreased their target price on Beta Bionics from $25.00 to $24.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 22nd. Lake Street Capital set a $20.00 target price on Beta Bionics in a research report on Wednesday, February 18th. Finally, TD Cowen assumed coverage on Beta Bionics in a research report on Monday, January 26th. They set a “hold” rating and a $17.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Beta Bionics Stock Down 2.9%

BBNX stock traded down $0.27 on Monday, reaching $9.19. 453,661 shares of the company’s stock were exchanged, compared to its average volume of 1,182,002. The stock has a fifty day moving average of $10.65 and a 200-day moving average of $18.72. Beta Bionics has a twelve month low of $8.80 and a twelve month high of $32.71. The firm has a market cap of $409.51 million, a PE ratio of -6.09 and a beta of 3.29.

Beta Bionics (NASDAQ:BBNX) last announced 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 return on equity of 23.00% and a negative net margin of 60.27%.The firm had revenue of $27.63 million for the quarter. On average, equities research analysts predict that Beta Bionics will post -2.19 EPS for the current fiscal year.

Institutional Trading of Beta Bionics

Large investors have recently made changes to their positions in the stock. GPS Wealth Strategies Group LLC boosted its stake in shares of Beta Bionics by 45.0% during the third quarter. GPS Wealth Strategies Group LLC now owns 1,450 shares of the company’s stock valued at $29,000 after acquiring an additional 450 shares during the last quarter. Strs Ohio acquired a new stake in shares of Beta Bionics during the first quarter valued at $29,000. EverSource Wealth Advisors LLC boosted its stake in shares of Beta Bionics by 203.6% during the third quarter. EverSource Wealth Advisors LLC now owns 2,377 shares of the company’s stock valued at $47,000 after acquiring an additional 1,594 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Beta Bionics during the fourth quarter valued at $52,000. Finally, Legal & General Group Plc boosted its stake in shares of Beta Bionics by 197.4% during the second quarter. Legal & General Group Plc now owns 3,976 shares of the company’s stock valued at $58,000 after acquiring an additional 2,639 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.