MBX Biosciences, Inc. (NASDAQ:MBX) Stock Has Average Price Target of $87.00

by · The Cerbat Gem

Shares of MBX Biosciences, Inc. (NASDAQ:MBX – Get Free Report) have been given an average rating of “Moderate Buy” by the thirteen brokerages that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $87.00.

Several equities research analysts have recently commented on MBX shares. Weiss Ratings reissued a “sell (d-)” rating on shares of MBX Biosciences in a research note on Thursday, October 15th. Stifel Nicolaus upped their price target on MBX Biosciences from $70.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, October 12th. Mizuho raised their price objective on MBX Biosciences from $57.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Wall Street Zen cut MBX Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, JPMorgan Chase & Co. started coverage on MBX Biosciences in a research report on Friday, August 21st. They set an “overweight” rating and a $88.00 target price on the stock.

Read Our Latest Analysis on MBX Biosciences

MBX Biosciences Price Performance

Shares of NASDAQ MBX opened at $51.35 on Friday. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of -21.31 and a beta of 0.18. MBX Biosciences has a 52 week low of $21.90 and a 52 week high of $72.64. The firm has a 50-day moving average price of $56.36 and a 200 day moving average price of $45.97.

MBX Biosciences (NASDAQ:MBX – Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.10). Equities research analysts expect that MBX Biosciences will post -3.10 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MBX. Russell Investments Group Ltd. raised its position in MBX Biosciences by 147.4% during the third quarter. Russell Investments Group Ltd. now owns 44,925 shares of the company’s stock worth $2,634,000 after acquiring an additional 26,763 shares during the last quarter. Alps Advisors Inc. increased its position in MBX Biosciences by 32.9% during the third quarter. Alps Advisors Inc. now owns 63,800 shares of the company’s stock worth $3,740,000 after buying an additional 15,788 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in MBX Biosciences during the third quarter worth $144,000. Profund Advisors LLC increased its position in MBX Biosciences by 183.9% during the 3rd quarter. Profund Advisors LLC now owns 25,021 shares of the company’s stock worth $1,467,000 after purchasing an additional 16,209 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its stake in MBX Biosciences by 28.5% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 11,787 shares of the company’s stock valued at $681,000 after purchasing an additional 2,612 shares during the last quarter.

MBX Biosciences Company Profile

(Get Free Report)

MBX Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing peptide therapies for endocrine and metabolic disorders. The company uses its Precision Plus peptide engineering platform to design medicines intended to provide targeted biological activity, longer duration and more convenient dosing than conventional peptide treatments.

MBX Biosciences’ lead program is MBX 2109, an investigational long-acting parathyroid hormone replacement therapy being developed for people with hypoparathyroidism, a disorder in which the body produces insufficient parathyroid hormone and has difficulty maintaining normal calcium levels.

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