MBX Biosciences, Inc. (NASDAQ:MBX) Stock Has Average Target Price of $83.89 According to Analysts

MBX Biosciences, Inc. (NASDAQ:MBX) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $87.00.

A number of research firms have recently commented on MBX. Guggenheim increased their price target on shares of MBX Biosciences from $88.00 to $150.00 and gave the company a “buy” rating in a report on Friday, October 2nd. UBS Group reissued a “buy” rating on shares of MBX Biosciences in a research report on Monday, September 28th. Barclays restated an “overweight” rating and issued a $88.00 price objective on shares of MBX Biosciences in a report on Friday, August 7th. Wall Street Zen cut MBX Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBX Biosciences in a research report on Friday, July 17th.

MBX Biosciences Price Performance

Shares of MBX stock opened at $48.82 on Monday. MBX Biosciences has a one year low of $12.94 and a one year high of $72.64. The company’s 50-day moving average is $61.30 and its 200 day moving average is $49.06.

MBX Biosciences (NASDAQ:MBX) last issued its earnings results on Thursday, August 6th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.10). Analysts predict that MBX Biosciences will post -3.10 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MBX. Arizona State Retirement System purchased a new stake in MBX Biosciences in the second quarter worth about $326,000. AXQ Capital LP bought a new position in MBX Biosciences in the 2nd quarter worth approximately $428,000. Moore Capital Management LP bought a new position in MBX Biosciences in the 2nd quarter worth approximately $3,582,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in MBX Biosciences by 194.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,344 shares of the company’s stock valued at $1,178,000 after buying an additional 14,106 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in MBX Biosciences by 55.9% during the 2nd quarter. Wellington Management Group LLP now owns 4,977,523 shares of the company’s stock valued at $274,759,000 after buying an additional 1,785,699 shares in the last quarter.

MBX Biosciences Company Profile

MBX Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing peptide therapies for endocrine and metabolic disorders. The company uses its Precision Endocrine Peptide platform to design engineered peptides intended to provide targeted activity, extended duration and more consistent treatment effects.

MBX’s lead program, MBX 1416, is an investigational long-acting parathyroid hormone receptor agonist being developed as a potential replacement therapy for people with hypoparathyroidism, a disorder in which the body produces insufficient parathyroid hormone.