Beta Bionics (NASDAQ:BBNX) Given a $17.00 Price Target at Robert W. Baird

Key Points

• Robert W. Baird raised the price target for Beta Bionics (NASDAQ:BBNX) from $15.00 to $17.00, indicating a potential upside of 6.05% based on the current stock price.
• Beta Bionics stock rose by 9.3% during trading, reaching $16.03, with an average volume of 684,263 shares traded.
• In the last quarter, Beta Bionics reported earnings of ($0.39) per share, exceeding analysts' estimates and generating revenues of $23.24 million, surpassing expectations of $19.73 million.

Beta Bionics (NASDAQ:BBNX - Get Free Report) received a $17.00 price objective from investment analysts at Robert W. Baird in a note issued to investors on Wednesday, MarketBeat reports. The firm presently has a "neutral" rating on the stock. Robert W. Baird's target price suggests a potential upside of 6.58% from the stock's previous close.

Several other equities research analysts have also recently issued reports on BBNX. The Goldman Sachs Group started coverage on shares of Beta Bionics in a research report on Friday, May 30th. They issued a "neutral" rating and a $16.00 price objective for the company. Truist Financial started coverage on Beta Bionics in a research report on Monday, June 16th. They set a "buy" rating and a $26.00 price target on the stock. Wolfe Research began coverage on Beta Bionics in a research report on Friday, May 30th. They issued an "outperform" rating and a $20.00 price objective for the company. Finally, Lake Street Capital began coverage on Beta Bionics in a report on Thursday, June 12th. They set a "buy" rating and a $30.00 target price for the company. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.56.

Beta Bionics Stock Performance

Shares of BBNX traded down $0.47 during trading hours on Wednesday, reaching $15.95. 266,109 shares of the stock traded hands, compared to its average volume of 511,769. Beta Bionics has a 52-week low of $8.89 and a 52-week high of $24.50. The company's 50-day simple moving average is $15.79.

Beta Bionics (NASDAQ:BBNX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.51) by $0.12. The company had revenue of $23.24 million during the quarter, compared to the consensus estimate of $19.73 million.

Insider Transactions at Beta Bionics

In other Beta Bionics news, CFO Stephen Feider sold 1,497 shares of Beta Bionics stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $17.89, for a total transaction of $26,781.33. Following the completion of the transaction, the chief financial officer owned 45,503 shares in the company, valued at approximately $814,048.67. The trade was a 3.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have sold a total of 4,519 shares of company stock worth $80,845 in the last ninety days.

Institutional Investors Weigh In On Beta Bionics

Hedge funds have recently modified their holdings of the company. Strs Ohio acquired a new stake in Beta Bionics in the 1st quarter worth about $29,000. CWM LLC purchased a new position in shares of Beta Bionics in the second quarter valued at $58,000. Values First Advisors Inc. raised its holdings in Beta Bionics by 13.2% in the second quarter. Values First Advisors Inc. now owns 42,563 shares of the company's stock valued at $620,000 after acquiring an additional 4,978 shares in the last quarter. Corebridge Financial Inc. acquired a new stake in Beta Bionics in the first quarter valued at $79,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Beta Bionics during the first quarter worth about $95,000.

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.