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

Beta Bionics (NASDAQ:BBNX) had its price target reduced by stock analysts at Bank of America from $23.00 to $11.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s price target points to a potential upside of 19.70% from the company’s previous close.

Several other equities analysts also recently weighed in on BBNX. Lake Street Capital set a $20.00 target price on Beta Bionics in a research report on Wednesday, February 18th. Stifel Nicolaus reduced 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. UBS Group upgraded Beta Bionics to a “strong-buy” rating in a research report on Monday, February 9th. Leerink Partners reduced 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. Finally, Truist Financial reduced their target price on Beta Bionics from $25.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.

Beta Bionics Stock Down 2.9%

Shares of BBNX traded down $0.27 during trading hours on Monday, reaching $9.19. 453,661 shares of the company traded hands, compared to its average volume of 1,182,002. The stock has a market capitalization of $409.51 million, a PE ratio of -6.09 and a beta of 3.29. Beta Bionics has a fifty-two week low of $8.80 and a fifty-two week high of $32.71. The stock has a fifty day simple moving average of $10.65 and a 200 day simple moving average of $18.72.

Beta Bionics (NASDAQ:BBNX) last released its earnings results on Tuesday, April 21st. The company reported ($0.49) earnings per share for the quarter, topping the consensus estimate 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. Research analysts predict that Beta Bionics will post -2.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Beta Bionics

A number of large investors have recently modified their holdings of BBNX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Beta Bionics in the 1st quarter worth about $95,000. Goldman Sachs Group Inc. purchased a new position in shares of Beta Bionics in the 1st quarter worth about $715,000. Woodline Partners LP purchased a new position in shares of Beta Bionics in the 1st quarter worth about $1,530,000. Strs Ohio purchased a new position in shares of Beta Bionics in the 1st quarter worth about $29,000. Finally, Rhumbline Advisers purchased a new position in shares of Beta Bionics in the 1st quarter worth about $158,000.

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.