MBX Biosciences, Inc. (NASDAQ:MBX) Stock Has Average Price Target of $83.89

Key Points

• Analyst sentiment is mostly positive: Thirteen brokerages give MBX Biosciences a consensus “Moderate Buy” rating, with an average 12-month price target of $83.89. Recent targets range from $91 at Mizuho to $150 at Guggenheim, though two analysts maintain sell ratings.
• MBX reported weaker-than-expected quarterly results: The company posted a loss of $0.78 per share, missing the consensus estimate of a $0.68 loss, and analysts expect a full-year loss of approximately $3.10 per share.
• Institutional ownership has increased: Wellington Management expanded its position by 55.9% to nearly 5 million shares, while UBS Asset Management increased its stake by 194.9%. MBX is developing peptide therapies for endocrine and metabolic disorders, led by its investigational hypoparathyroidism treatment MBX 1416.

MBX Biosciences, Inc. (NASDAQ:MBX - Get Free Report) has received an average rating of "Moderate Buy" from the thirteen brokerages that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $83.89.

Several equities analysts have recently weighed in on the stock. Mizuho increased their price objective 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. Wall Street Zen cut shares of MBX Biosciences from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of MBX Biosciences in a report on Friday, July 17th. Guggenheim lifted their target price on shares of MBX Biosciences from $88.00 to $150.00 and gave the stock a "buy" rating in a report on Friday, October 2nd. Finally, UBS Group reiterated a "buy" rating on shares of MBX Biosciences in a research note on Monday, September 28th.

MBX Biosciences Stock Performance

MBX opened at $53.24 on Monday. MBX Biosciences has a 1-year low of $12.94 and a 1-year high of $72.64. The stock's fifty day simple moving average is $62.35 and its 200 day simple moving average is $48.61. The stock has a market cap of $2.56 billion, a PE ratio of -22.09 and a beta of 0.10.

MBX Biosciences (NASDAQ:MBX - Get Free Report) last announced its quarterly earnings results 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). Equities analysts forecast that MBX Biosciences will post -3.10 earnings per share for the current year.

Institutional Investors Weigh In On MBX Biosciences

Several hedge funds have recently bought and sold shares of the stock. Arizona State Retirement System acquired a new stake in MBX Biosciences during the 2nd quarter worth approximately $326,000. AXQ Capital LP bought a new stake in MBX Biosciences in the 2nd quarter valued at $428,000. Moore Capital Management LP bought a new stake in MBX Biosciences in the 2nd quarter valued at $3,582,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in MBX Biosciences by 194.9% in 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 during the period. Finally, Wellington Management Group LLP grew its holdings in MBX Biosciences by 55.9% in the 2nd quarter. Wellington Management Group LLP now owns 4,977,523 shares of the company's stock valued at $274,759,000 after buying 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.