Inhibrx Biosciences, Inc. (NASDAQ:INBX) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Inhibrx Biosciences has a consensus “Moderate Buy” rating from six analysts, with one sell, two hold, two buy and one strong-buy rating. The average 12-month price target is $197.50, including HC Wainwright’s $245 target.
• Shares opened at $121.17 and have traded between $26.19 and $155.29 over the past year; the stock’s 3.66 beta indicates high volatility. The company reported a quarterly loss of $2.34 per share, missing the $2.28 consensus estimate.
• Institutional investors own 82.46% of the stock, with several firms recently adding or initiating positions. Inhibrx is a clinical-stage biotechnology company developing engineered protein therapeutics, including its lead candidate INBRX-109.

Shares of Inhibrx Biosciences, Inc. (NASDAQ:INBX - Get Free Report) have earned a consensus rating of "Moderate Buy" from the six brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $197.50.

Several research firms have weighed in on INBX. Citigroup reissued a "market perform" rating on shares of Inhibrx Biosciences in a report on Thursday, August 27th. Wall Street Zen cut Inhibrx Biosciences from a "hold" rating to a "strong sell" rating in a report on Monday, August 17th. HC Wainwright began coverage on Inhibrx Biosciences in a research report on Monday, August 24th. They issued a "buy" rating and a $245.00 target price on the stock. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Inhibrx Biosciences in a research note on Tuesday, June 16th.

Inhibrx Biosciences Stock Performance

INBX stock opened at $121.17 on Tuesday. The company has a debt-to-equity ratio of 12.58, a current ratio of 5.07 and a quick ratio of 5.07. The company has a fifty day moving average price of $97.77 and a two-hundred day moving average price of $92.51. Inhibrx Biosciences has a one year low of $26.19 and a one year high of $155.29. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -13.65 and a beta of 3.66.

Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($2.34) earnings per share for the quarter, missing the consensus estimate of ($2.28) by ($0.06). Equities analysts anticipate that Inhibrx Biosciences will post -9.91 EPS for the current year.

Institutional Investors Weigh In On Inhibrx Biosciences

A number of institutional investors have recently modified their holdings of INBX. Strs Ohio acquired a new position in shares of Inhibrx Biosciences during the 1st quarter worth approximately $27,000. Russell Investments Group Ltd. boosted its stake in shares of Inhibrx Biosciences by 11.0% in the second quarter. Russell Investments Group Ltd. now owns 29,993 shares of the company's stock valued at $428,000 after buying an additional 2,963 shares during the period. Invesco Ltd. acquired a new stake in Inhibrx Biosciences during the second quarter worth approximately $193,000. Bank of America Corp DE increased its stake in Inhibrx Biosciences by 19.2% during the 2nd quarter. Bank of America Corp DE now owns 9,130 shares of the company's stock worth $130,000 after acquiring an additional 1,469 shares during the period. Finally, Bridgeway Capital Management LLC acquired a new position in Inhibrx Biosciences in the 2nd quarter valued at $235,000. Institutional investors own 82.46% of the company's stock.

Inhibrx Biosciences Company Profile

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.

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