Beta Bionics (NASDAQ:BBNX) Price Target Cut to $20.00 by Analysts at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group cut its price target on Beta Bionics from $23 to $20 but kept a "buy" rating, with the $20 target implying roughly a 101% upside from the recent close.
• Analyst coverage is mixed: the consensus is a "Moderate Buy" with an average target of $22.70, while multiple firms (e.g., BofA, Robert W. Baird, Stifel) have recently lowered ratings or price objectives.
• Shares trade around $9.93 (up 1.4%) with a market cap near $441M; Beta Bionics reported Q1 EPS of -$0.30 beating estimates and revenue of $32.12M but remains unprofitable, and several institutional investors have recently taken new positions in the stock.

Beta Bionics (NASDAQ:BBNX - Get Free Report) had its price target cut by The Goldman Sachs Group from $23.00 to $20.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. The Goldman Sachs Group's target price would suggest a potential upside of 101.41% from the company's previous close.

A number of other research analysts have also weighed in on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Beta Bionics in a report on Friday, March 27th. Bank of America lowered Beta Bionics from a "buy" rating to a "neutral" rating in a report on Friday, January 9th. Robert W. Baird decreased their price objective on Beta Bionics from $28.00 to $14.00 and set a "neutral" rating on the stock in a report on Wednesday, February 18th. TD Cowen assumed coverage on Beta Bionics in a research note on Monday, January 26th. They set a "hold" rating and a $17.00 price objective on the stock. Finally, Stifel Nicolaus lowered their price objective on Beta Bionics from $25.00 to $22.00 and set a "buy" rating on the stock in a research note on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $22.70.

Beta Bionics Trading Up 1.4%

BBNX traded up $0.14 on Thursday, reaching $9.93. The stock had a trading volume of 314,301 shares, compared to its average volume of 1,240,964. Beta Bionics has a 12-month low of $9.37 and a 12-month high of $32.71. The business's 50-day moving average price is $12.02 and its two-hundred day moving average price is $20.60. The company has a market cap of $440.69 million, a P/E ratio of -5.14 and a beta of 5.06.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last released its quarterly earnings data on Tuesday, February 17th. The company reported ($0.30) earnings per share for the quarter, beating analysts' consensus estimates of ($0.42) by $0.12. The company had revenue of $32.12 million during the quarter. Beta Bionics had a negative net margin of 73.02% and a negative return on equity of 20.29%.

Institutional Investors Weigh In On Beta Bionics

Several large investors have recently added to or reduced their stakes in BBNX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Beta Bionics during the 1st quarter worth approximately $95,000. Goldman Sachs Group Inc. purchased a new stake in Beta Bionics during the first quarter worth approximately $715,000. Woodline Partners LP purchased a new stake in Beta Bionics during the first quarter worth approximately $1,530,000. Strs Ohio purchased a new stake in Beta Bionics during the first quarter worth approximately $29,000. Finally, Rhumbline Advisers purchased a new stake in Beta Bionics during the first quarter worth approximately $158,000.

About Beta Bionics

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.

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