MBX Biosciences, Inc. (NASDAQ:MBX) Stock Has Consensus 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 presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $87.00.

A number of equities research analysts recently commented on the stock. Stifel Nicolaus raised their price objective on shares of MBX Biosciences from $70.00 to $84.00 and gave the stock a “buy” rating in a report on Monday, October 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBX Biosciences in a research note on Thursday. Truist Financial upped their target price on shares of MBX Biosciences from $70.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Barclays reiterated an “overweight” rating and set a $88.00 target price on shares of MBX Biosciences in a report on Friday, August 7th. Finally, UBS Group reissued a “buy” rating on shares of MBX Biosciences in a research note on Monday, September 28th.

MBX Biosciences Price Performance

MBX opened at $49.61 on Monday. The stock has a market cap of $2.39 billion, a P/E ratio of -20.59 and a beta of 0.10. MBX Biosciences has a 12 month low of $12.94 and a 12 month high of $72.64. The company has a fifty day simple moving average of $60.61 and a 200 day simple moving average of $49.38.

MBX Biosciences (NASDAQ:MBX) last posted its earnings results on Thursday, August 6th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.10). On average, equities research analysts expect that MBX Biosciences will post -3.10 earnings per share for the current fiscal year.

Institutional Trading of MBX Biosciences

A number of institutional investors have recently made changes to their positions in the business. Strs Ohio increased its position in shares of MBX Biosciences by 128.6% in the first quarter. Strs Ohio now owns 1,600 shares of the company’s stock valued at $48,000 after acquiring an additional 900 shares during the last quarter. State of Wyoming acquired a new position in MBX Biosciences during the second quarter valued at approximately $58,000. Sei Investments Co. boosted its position in MBX Biosciences by 17.4% during the first quarter. Sei Investments Co. now owns 8,989 shares of the company’s stock valued at $268,000 after purchasing an additional 1,332 shares during the last quarter. Quantbot Technologies LP acquired a new position in MBX Biosciences during the second quarter valued at approximately $213,000. Finally, Bank of New York Mellon Corp grew its stake in MBX Biosciences by 6.6% in the first quarter. Bank of New York Mellon Corp now owns 80,222 shares of the company’s stock valued at $2,395,000 after purchasing an additional 4,960 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.