MBX Biosciences, Inc. (NASDAQ:MBX) Stock Has Average Target Price of $87.00

Key Points

• Analyst sentiment is broadly positive: MBX has a “Moderate Buy” consensus from 13 analysts, with an average 12-month price target of $87; ratings include 10 buys, one strong buy, and two sells.
• The stock opened at $48.46 after a reported 7.7% decline. Analysts recently raised targets, including Mizuho’s increase to $91 and Truist’s to $88.
• MBX reported a quarterly loss of $0.78 per share, missing the consensus estimate of a $0.68 loss by $0.10. Several institutional investors also added or initiated positions in the company.

Shares of MBX Biosciences, Inc. (NASDAQ:MBX - Get Free Report) have received a consensus rating of "Moderate Buy" from the thirteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $87.00.

A number of equities analysts recently issued reports on MBX shares. Stifel Nicolaus upped their price objective on shares of MBX Biosciences from $70.00 to $84.00 and gave the stock a "buy" rating in a research report on Monday, October 12th. Barclays restated an "overweight" rating and issued a $88.00 target price on shares of MBX Biosciences in a research report on Friday, August 7th. Truist Financial boosted their target price on shares of MBX Biosciences from $70.00 to $88.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. Citigroup reiterated a "market outperform" rating on shares of MBX Biosciences in a report on Tuesday, October 27th. Finally, Mizuho increased their price target on MBX Biosciences from $57.00 to $91.00 and gave the company an "outperform" rating in a research note on Wednesday, July 29th.

MBX Biosciences Stock Down 7.7%

MBX Biosciences stock opened at $48.46 on Friday. MBX Biosciences has a 12-month low of $21.90 and a 12-month high of $72.64. The business's 50-day moving average price is $56.66 and its two-hundred day moving average price is $45.93. The stock has a market cap of $2.33 billion, a PE ratio of -20.11 and a beta of 0.17.

MBX Biosciences (NASDAQ:MBX - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.78) EPS for the quarter, missing analysts' consensus estimates of ($0.68) by ($0.10). As a group, analysts expect that MBX Biosciences will post -3.10 earnings per share for the current year.

Institutional Investors Weigh In On MBX Biosciences

A number of hedge funds and other institutional investors have recently bought and sold shares of MBX. Wellington Management Group LLP boosted its position in MBX Biosciences by 55.9% during the 2nd quarter. Wellington Management Group LLP now owns 4,977,523 shares of the company's stock worth $274,759,000 after buying an additional 1,785,699 shares during the period. BlackRock Inc. bought a new stake in MBX Biosciences during the 2nd quarter worth approximately $183,467,000. Parkman Healthcare Partners LLC bought a new stake in MBX Biosciences during the 2nd quarter worth approximately $44,170,000. Bank of America Corp DE acquired a new position in MBX Biosciences in the 2nd quarter valued at approximately $16,501,000. Finally, Stempoint Capital LP increased its position in MBX Biosciences by 535.8% in the 1st quarter. Stempoint Capital LP now owns 499,469 shares of the company's stock valued at $14,909,000 after acquiring an additional 420,916 shares during the period.

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 Plus peptide engineering platform to design medicines intended to provide targeted biological activity, longer duration and more convenient dosing than conventional peptide treatments.

MBX Biosciences' lead program is MBX 2109, an investigational long-acting parathyroid hormone replacement therapy being developed for people with hypoparathyroidism, a disorder in which the body produces insufficient parathyroid hormone and has difficulty maintaining normal calcium levels.

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