Inhibrx Biosciences, Inc. (NASDAQ:INBX) Given Consensus Recommendation of “Hold” by Brokerages

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

INBX has been the subject of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Inhibrx Biosciences in a research report on Tuesday, June 16th. Lifesci Capital raised shares of Inhibrx Biosciences to a “strong-buy” rating in a research report on Friday, April 24th. Zacks Research upgraded shares of Inhibrx Biosciences to a “hold” rating in a research note on Thursday, April 9th. Stifel Nicolaus assumed coverage on shares of Inhibrx Biosciences in a research note on Wednesday, April 8th. They issued a “buy” rating and a $150.00 price objective for the company. Finally, Wall Street Zen raised shares of Inhibrx Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, June 13th.

Institutional Trading of Inhibrx Biosciences

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Persistent Asset Partners Ltd purchased a new stake in Inhibrx Biosciences during the 4th quarter worth about $27,000. Strs Ohio purchased a new position in Inhibrx Biosciences during the 1st quarter valued at about $27,000. Public Employees Retirement System of Ohio purchased a new position in 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. 82.46% of the stock is currently owned by institutional investors.

Inhibrx Biosciences Stock Up 2.4%

Shares of NASDAQ INBX opened at $95.10 on Thursday. Inhibrx Biosciences has a one year low of $13.97 and a one year high of $155.29. The company has a debt-to-equity ratio of 12.58, a current ratio of 6.46 and a quick ratio of 6.46. The business’s fifty day moving average price is $104.34 and its 200-day moving average price is $85.60. The stock has a market capitalization of $1.40 billion, a PE ratio of -11.33 and a beta of 3.31.

Inhibrx Biosciences (NASDAQ:INBX) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($2.15) earnings per share for the quarter, missing the consensus estimate of ($1.68) by ($0.47). On average, equities research analysts anticipate 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.