MBX Biosciences, Inc. (NASDAQ:MBX) Receives $77.00 Consensus PT from Analysts

Shares of MBX Biosciences, Inc. (NASDAQ:MBX) have earned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $77.00.

Several brokerages have recently weighed in on MBX. Weiss Ratings reiterated a “sell (d-)” rating on shares of MBX Biosciences in a research note on Friday, July 17th. Citizens Jmp boosted their price target on MBX Biosciences from $76.00 to $86.00 and gave the company a “market outperform” rating in a research report on Tuesday, May 12th. Citigroup reaffirmed an “outperform” rating on shares of MBX Biosciences in a research note on Tuesday, May 12th. Stifel Nicolaus set a $56.00 price objective on MBX Biosciences in a research report on Tuesday, May 12th. Finally, Barclays reiterated an “overweight” rating and issued a $88.00 target price on shares of MBX Biosciences in a research note on Friday, August 7th.

MBX Biosciences Price Performance

Shares of NASDAQ:MBX opened at $68.62 on Friday. The stock has a market cap of $3.30 billion, a P/E ratio of -28.47 and a beta of 0.10. The firm has a fifty day moving average price of $60.43 and a 200 day moving average price of $42.44. MBX Biosciences has a 1-year low of $9.63 and a 1-year high of $72.64.

MBX Biosciences (NASDAQ:MBX) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.10). Sell-side analysts expect that MBX Biosciences will post -3.12 EPS for the current fiscal year.

Hedge Funds Weigh In On MBX Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State of Wyoming purchased a new position in MBX Biosciences during the 2nd quarter worth $58,000. Russell Investments Group Ltd. lifted its stake in shares of MBX Biosciences by 4,131.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock worth $26,000 after acquiring an additional 1,446 shares during the period. Royal Bank of Canada boosted its holdings in shares of MBX Biosciences by 59.6% in the fourth quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock valued at $49,000 after acquiring an additional 572 shares in the last quarter. Strs Ohio boosted its holdings 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 in the last quarter. Finally, California State Teachers Retirement System increased its stake in shares of MBX Biosciences by 64.7% during the fourth quarter. California State Teachers Retirement System now owns 1,754 shares of the company’s stock worth $55,000 after acquiring an additional 689 shares during the period.

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.