MBX Biosciences (NASDAQ:MBX) Price Target Raised to $91.00

MBX Biosciences (NASDAQ:MBX) had its target price hoisted by Mizuho from $57.00 to $91.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

MBX has been the topic of several other reports. Weiss Ratings restated a “sell (d-)” rating on shares of MBX Biosciences in a report on Friday, July 17th. Truist Financial upped their price target on shares of MBX Biosciences from $50.00 to $70.00 and gave the company a “buy” rating in a report on Monday, May 11th. Lifesci Capital raised shares of MBX Biosciences to a “strong-buy” rating in a research report on Tuesday, March 31st. UBS Group reiterated a “buy” rating and set a $90.00 target price on shares of MBX Biosciences in a report on Thursday, July 23rd. Finally, Barclays lifted their price target on MBX Biosciences from $66.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, MBX Biosciences currently has an average rating of “Moderate Buy” and a consensus price target of $71.12.

MBX Biosciences Price Performance

Shares of MBX Biosciences stock opened at $65.93 on Wednesday. The company has a market capitalization of $3.14 billion, a P/E ratio of -29.83 and a beta of 0.16. The business has a 50-day moving average of $48.63 and a two-hundred day moving average of $39.05. MBX Biosciences has a 1 year low of $9.63 and a 1 year high of $69.40.

Hedge Funds Weigh In On MBX Biosciences

A number of institutional investors have recently added to or reduced their stakes in MBX. Stempoint Capital LP boosted its position in MBX Biosciences by 535.8% in the first quarter. Stempoint Capital LP now owns 499,469 shares of the company’s stock valued at $14,909,000 after buying an additional 420,916 shares in the last quarter. Janus Henderson Group PLC bought a new stake in shares of MBX Biosciences during the first quarter worth about $308,000. California State Teachers Retirement System increased its stake in shares of MBX Biosciences by 1,197.9% in the first quarter. California State Teachers Retirement System now owns 22,765 shares of the company’s stock valued at $680,000 after buying an additional 21,011 shares during the period. Rock Springs Capital Management LP boosted its position in MBX Biosciences by 1.9% during the 1st quarter. Rock Springs Capital Management LP now owns 287,967 shares of the company’s stock worth $8,596,000 after buying an additional 5,343 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in MBX Biosciences by 30.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 90,634 shares of the company’s stock worth $2,705,000 after acquiring an additional 21,083 shares during the last quarter.

MBX Biosciences Company Profile

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.