Analysts Set MBX Biosciences, Inc. (NASDAQ:MBX) Target Price at $60.22

MBX Biosciences, Inc. (NASDAQ:MBX) has received a consensus rating of “Moderate Buy” from the thirteen brokerages that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $60.2222.

A number of equities research analysts have weighed in on MBX shares. UBS Group reiterated a “buy” rating on shares of MBX Biosciences in a research report on Tuesday, February 24th. TD Cowen reiterated a “buy” rating on shares of MBX Biosciences in a report on Thursday, March 12th. Lifesci Capital upgraded shares of MBX Biosciences to a “strong-buy” rating in a report on Tuesday, March 31st. Citigroup restated an “outperform” rating on shares of MBX Biosciences in a report on Tuesday, May 12th. Finally, Barclays upped their price target on shares of MBX Biosciences from $66.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th.

Insider Buying and Selling

In other news, CEO P. Kent Hawryluk acquired 18,500 shares of the business’s stock in a transaction on Friday, March 13th. The stock was bought at an average price of $28.41 per share, for a total transaction of $525,585.00. Following the transaction, the chief executive officer owned 486,777 shares in the company, valued at $13,829,334.57. This represents a 3.95% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Hedge Funds Weigh In On MBX Biosciences

A number of institutional investors and hedge funds have recently made changes to their positions in MBX. Geode Capital Management LLC grew its stake in shares of MBX Biosciences by 27.0% during the 2nd quarter. Geode Capital Management LLC now owns 348,447 shares of the company’s stock worth $3,976,000 after purchasing an additional 73,989 shares during the period. Rhumbline Advisers lifted its holdings in shares of MBX Biosciences by 171.6% during the 2nd quarter. Rhumbline Advisers now owns 23,662 shares of the company’s stock worth $270,000 after acquiring an additional 14,950 shares during the period. XTX Topco Ltd purchased a new position in shares of MBX Biosciences during the 2nd quarter worth about $135,000. The Manufacturers Life Insurance Company lifted its holdings in shares of MBX Biosciences by 73.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 87,097 shares of the company’s stock worth $994,000 after acquiring an additional 36,987 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of MBX Biosciences by 40.3% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,329 shares of the company’s stock worth $106,000 after acquiring an additional 2,682 shares during the period.

MBX Biosciences Price Performance

Shares of MBX stock opened at $30.39 on Friday. MBX Biosciences has a 12 month low of $9.43 and a 12 month high of $45.85. The company has a market capitalization of $1.45 billion, a PE ratio of -13.75 and a beta of 0.78. The firm’s 50-day moving average is $31.47 and its two-hundred day moving average is $32.11.

MBX Biosciences (NASDAQ:MBX) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($0.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.15. Sell-side analysts forecast that MBX Biosciences will post -2.84 EPS for the current year.

About MBX Biosciences

We are a clinical-stage biopharmaceutical company focused on the discovery and development of novel precision peptide therapies for the treatment of endocrine and metabolic disorders. Our company was founded by global leaders with a transformative approach to peptide drug design and development. Leveraging this expertise, we designed our proprietary Precision Endocrine Peptide™, or PEPTM, platform to overcome the key limitations of unmodified and modified peptide therapies and to improve clinical outcomes and simplify disease management for patients.