MBX Biosciences (NASDAQ:MBX) Given New $84.00 Price Target at Stifel Nicolaus

Key Points

• Stifel Nicolaus raised MBX Biosciences’ price target to $84 from $70 and maintained a “buy” rating, implying 57.78% upside from the prior close.
• Analyst sentiment is generally positive, with MBX receiving a “Moderate Buy” consensus rating and an average price target of $87, despite two sell ratings.
• MBX opened at $53.24 and recently reported a quarterly loss of $0.78 per share, missing the $0.68 consensus estimate; the company is developing peptide therapies, including lead program MBX 1416 for hypoparathyroidism.

MBX Biosciences (NASDAQ:MBX - Get Free Report) had its target price hoisted by investment analysts at Stifel Nicolaus from $70.00 to $84.00 in a research report issued to clients and investors on Monday, MarketBeat reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus' target price would indicate a potential upside of 57.78% from the stock's previous close.

Several other equities analysts have also recently issued reports on MBX. Weiss Ratings reiterated a "sell (d-)" rating on shares of MBX Biosciences in a report on Friday, July 17th. Barclays reissued an "overweight" rating and set a $88.00 price objective on shares of MBX Biosciences in a report on Friday, August 7th. Mizuho upped their target price on shares of MBX Biosciences from $57.00 to $91.00 and gave the company an "outperform" rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. initiated coverage on shares of MBX Biosciences in a research report on Friday, August 21st. They set an "overweight" rating and a $88.00 target price on the stock. Finally, Wall Street Zen lowered shares of MBX Biosciences from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $87.00.

MBX Biosciences Stock Performance

NASDAQ:MBX opened at $53.24 on Monday. The company has a market cap of $2.56 billion, a price-to-earnings ratio of -22.09 and a beta of 0.10. The stock's fifty day moving average price is $62.35 and its two-hundred day moving average price is $48.61. MBX Biosciences has a 52-week low of $12.94 and a 52-week high of $72.64.

MBX Biosciences (NASDAQ:MBX - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.10). On average, equities analysts predict that MBX Biosciences will post -3.10 EPS for the current fiscal year.

Institutional Trading of MBX Biosciences

Hedge funds have recently modified their holdings of the company. Arizona State Retirement System bought a new position in MBX Biosciences during the second quarter worth about $326,000. AXQ Capital LP acquired a new stake in shares of MBX Biosciences during the second quarter worth about $428,000. Moore Capital Management LP bought a new position in shares of MBX Biosciences during the 2nd quarter valued at about $3,582,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of MBX Biosciences by 194.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,344 shares of the company's stock valued at $1,178,000 after purchasing an additional 14,106 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of MBX Biosciences by 55.9% during the 2nd quarter. Wellington Management Group LLP now owns 4,977,523 shares of the company's stock valued at $274,759,000 after purchasing an additional 1,785,699 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.

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