The Goldman Sachs Group Initiates Coverage on Beta Bionics (NASDAQ:BBNX)

Analysts at The Goldman Sachs Group assumed coverage on shares of Beta Bionics (NASDAQ:BBNX) in a research note issued on Friday, MarketBeat reports. The firm set a “neutral” rating and a $16.00 price target on the stock. The Goldman Sachs Group’s price objective points to a potential downside of 6.98% from the company’s previous close.

A number of other analysts have also commented on BBNX. Robert W. Baird initiated coverage on shares of Beta Bionics in a research report on Thursday, February 20th. They issued a “neutral” rating and a $20.00 price objective on the stock. LADENBURG THALM/SH SH initiated coverage on shares of Beta Bionics in a research report on Thursday, February 20th. They issued a “neutral” rating and a $20.00 price objective on the stock. Baird R W raised shares of Beta Bionics to a “hold” rating in a research report on Thursday, February 20th. Bank of America initiated coverage on shares of Beta Bionics in a research report on Monday, February 24th. They issued a “buy” rating on the stock. Finally, Leerink Partnrs raised shares of Beta Bionics to a “strong-buy” rating in a research report on Monday, February 24th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.13.

Beta Bionics Stock Performance

Shares of BBNX opened at $17.20 on Friday. Beta Bionics has a twelve month low of $8.89 and a twelve month high of $24.50. The firm has a 50 day moving average of $12.38.

Beta Bionics (NASDAQ:BBNX) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.01).

Institutional Trading of Beta Bionics

Large investors have recently added to or reduced their stakes in the company. Driehaus Capital Management LLC acquired a new stake in Beta Bionics in the first quarter valued at $10,799,000. Ghisallo Capital Management LLC acquired a new stake in Beta Bionics in the first quarter valued at $612,000. Omega Fund Management LLC acquired a new stake in Beta Bionics in the first quarter valued at $24,337,000. Walleye Capital LLC acquired a new stake in Beta Bionics in the first quarter valued at $1,813,000. Finally, Wellington Management Group LLP bought a new position in shares of Beta Bionics in the first quarter valued at about $47,346,000.

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.