MBX Biosciences, Inc. (NASDAQ:MBX) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• MBX Biosciences has a “Moderate Buy” consensus from 13 analysts: 10 recommend buying, one rates it a strong buy, and two rate it a sell. The average 12-month price target is $77, above the reported opening price of $61.57.
• Recent analysts have raised or maintained optimistic targets, including Truist, Barclays, JPMorgan, and Mizuho, with price objectives ranging from $88 to $91; however, Wall Street Zen downgraded the stock to “sell.”
• MBX reported a quarterly loss of $0.78 per share, missing the $0.68 consensus estimate, while its shares remain well above the 52-week low of $9.64 and below the high of $72.64.

Shares of MBX Biosciences, Inc. (NASDAQ:MBX - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the thirteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, ten have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $77.00.

MBX has been the subject of a number of research analyst reports. Truist Financial lifted their target price on shares of MBX Biosciences from $70.00 to $88.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Wall Street Zen lowered MBX Biosciences from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Barclays reiterated an "overweight" rating and set a $88.00 price objective on shares of MBX Biosciences in a research report on Friday, August 7th. JPMorgan Chase & Co. initiated coverage on MBX Biosciences in a research note on Friday, August 21st. They set an "overweight" rating and a $88.00 price target for the company. Finally, Mizuho increased their price objective on shares of MBX Biosciences from $57.00 to $91.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 29th.

MBX Biosciences Stock Up 0.8%

Shares of NASDAQ MBX opened at $61.57 on Thursday. The firm's 50-day moving average price is $63.66 and its 200-day moving average price is $45.25. MBX Biosciences has a 52-week low of $9.64 and a 52-week high of $72.64. The company has a market cap of $2.97 billion, a PE ratio of -25.55 and a beta of 0.04.

MBX Biosciences (NASDAQ:MBX - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.10). As a group, equities research analysts anticipate that MBX Biosciences will post -3.11 EPS for the current fiscal year.

Institutional Investors Weigh In On MBX Biosciences

Hedge funds have recently modified their holdings of the business. Strs Ohio lifted its position in MBX Biosciences by 128.6% during the first quarter. Strs Ohio now owns 1,600 shares of the company's stock valued at $48,000 after purchasing an additional 900 shares in the last quarter. State of Wyoming purchased a new position in shares of MBX Biosciences during the 2nd quarter valued at about $58,000. Sei Investments Co. increased its holdings in MBX Biosciences by 17.4% in the 1st quarter. Sei Investments Co. now owns 8,989 shares of the company's stock worth $268,000 after acquiring an additional 1,332 shares in the last quarter. Quantbot Technologies LP bought a new stake in MBX Biosciences during the 2nd quarter worth approximately $213,000. Finally, Bank of New York Mellon Corp lifted its holdings in MBX Biosciences by 6.6% during the first quarter. Bank of New York Mellon Corp now owns 80,222 shares of the company's stock valued at $2,395,000 after purchasing an additional 4,960 shares in the last quarter.

About MBX Biosciences

MBX Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing precision peptide therapies for endocrine and metabolic disorders. The company uses its Precision Empowered Peptide platform to design peptide medicines intended to provide targeted biological activity, extended duration and improved dosing convenience.

MBX's lead product candidate is MBX 2109, an investigational long-acting parathyroid hormone replacement therapy being developed for people with hypoparathyroidism.

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