Inhibrx Biosciences, Inc. (NASDAQ:INBX) Receives $150.00 Average Target Price from Brokerages

Shares of Inhibrx Biosciences, Inc. (NASDAQ:INBX) have been assigned an average recommendation of “Hold” from the six ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $150.00.

A number of research analysts recently issued reports on the company. Stifel Nicolaus began coverage on Inhibrx Biosciences in a report on Wednesday, April 8th. They set a “buy” rating and a $150.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Inhibrx Biosciences in a report on Tuesday, June 16th. Lifesci Capital upgraded Inhibrx Biosciences to a “strong-buy” rating in a report on Friday, April 24th. Zacks Research upgraded Inhibrx Biosciences to a “hold” rating in a research report on Thursday, April 9th. Finally, Wall Street Zen cut Inhibrx Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th.

Institutional Trading of Inhibrx Biosciences

Several large investors have recently added to or reduced their stakes in INBX. Persistent Asset Partners Ltd bought a new position in Inhibrx Biosciences in the 4th quarter worth $27,000. Strs Ohio bought a new stake in shares of Inhibrx Biosciences during the 1st quarter valued at about $27,000. Public Employees Retirement System of Ohio bought a new stake in shares of Inhibrx Biosciences during the 3rd quarter valued at about $40,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Inhibrx Biosciences by 26.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 707 shares of the company’s stock valued at $56,000 after buying an additional 147 shares during the period. Finally, BNP Paribas Financial Markets increased its position in shares of Inhibrx Biosciences by 71.9% during the third quarter. BNP Paribas Financial Markets now owns 1,886 shares of the company’s stock valued at $64,000 after buying an additional 789 shares during the period. Institutional investors own 82.46% of the company’s stock.

Inhibrx Biosciences Price Performance

Shares of Inhibrx Biosciences stock opened at $94.94 on Thursday. The firm has a market cap of $1.39 billion, a PE ratio of -11.32 and a beta of 3.41. Inhibrx Biosciences has a 12-month low of $14.95 and a 12-month high of $155.29. The company has a quick ratio of 6.46, a current ratio of 6.46 and a debt-to-equity ratio of 12.58. The company’s fifty day simple moving average is $105.44 and its two-hundred day simple moving average is $85.86.

Inhibrx Biosciences (NASDAQ:INBX) last released its quarterly earnings data on Thursday, May 14th. The company reported ($2.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.47). As a group, equities analysts expect that Inhibrx Biosciences will post -10.15 EPS for the current year.

About Inhibrx Biosciences

Inhibrx, Inc, headquartered in La Jolla, California, is a clinical-stage biotechnology company focused on the discovery and development of next-generation protein therapeutics. The company’s proprietary protein engineering platform enables the design and production of multispecific and multivalent biologics with tailored binding characteristics and favorable pharmacokinetic properties. By leveraging high-throughput screening and structure-based design, Inhibrx aims to create molecules that address challenging targets in oncology, regenerative medicine and other areas of unmet medical need.

The company’s lead candidate, INBRX-109, is a tetravalent agonist of the receptor tyrosine kinase ROR2 designed to stimulate tissue repair and regeneration.