Inhibrx Biosciences (NASDAQ:INBX) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Inhibrx Biosciences (NASDAQ:INBX) to a hold rating in a report issued on Thursday,Zacks.com reports.

Several other research analysts have also commented on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Inhibrx Biosciences in a research report on Thursday, January 22nd. Wall Street Zen downgraded Inhibrx Biosciences from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Stifel Nicolaus began coverage on shares of Inhibrx Biosciences in a report on Wednesday. They issued a “buy” rating and a $150.00 target price on the stock. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $150.00.

Inhibrx Biosciences Stock Performance

NASDAQ INBX opened at $75.27 on Thursday. The company has a fifty day moving average of $72.94 and a two-hundred day moving average of $69.46. The company has a market capitalization of $1.10 billion, a PE ratio of -8.33 and a beta of 1.82. Inhibrx Biosciences has a 1 year low of $10.81 and a 1 year high of $94.57. The company has a debt-to-equity ratio of 12.58, a current ratio of 3.93 and a quick ratio of 3.93.

Inhibrx Biosciences (NASDAQ:INBX) last posted its earnings results on Thursday, March 19th. The company reported ($2.11) earnings per share for the quarter, missing the consensus estimate of ($2.08) by ($0.03). As a group, analysts expect that Inhibrx Biosciences will post 104.88 earnings per share for the current year.

Hedge Funds Weigh In On Inhibrx Biosciences

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

Inhibrx Biosciences Company Profile

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.