Inhibrx Biosciences (NASDAQ:INBX) Now Covered by Stifel Nicolaus

Key Points

• Stifel Nicolaus initiated coverage with a Buy rating and a $150.00 price target, implying roughly a 140.58% upside from the prior close.
• The stock opened at $62.35 (one‑year range $10.81–$94.57) with a market cap of about $910.8M; Inhibrx reported a quarterly loss of ($2.11) EPS, missing estimates.
• Institutional investors hold approximately 82.46% of the company's shares, indicating heavy institutional ownership.

Research analysts at Stifel Nicolaus initiated coverage on shares of Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) in a research note issued to investors on Wednesday,Benzinga reports. The firm set a "buy" rating and a $150.00 price target on the stock. Stifel Nicolaus' target price suggests a potential upside of 140.58% from the company's previous close.

Separately, Weiss Ratings restated a "sell (d)" rating on shares of Inhibrx Biosciences in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $150.00.

Inhibrx Biosciences Stock Down 2.2%

INBX stock opened at $62.35 on Wednesday. Inhibrx Biosciences has a one year low of $10.81 and a one year high of $94.57. The stock has a market capitalization of $910.75 million, a PE ratio of -6.90 and a beta of 1.82. The company has a debt-to-equity ratio of 12.58, a quick ratio of 3.93 and a current ratio of 3.93. The company has a fifty day moving average of $73.04 and a 200-day moving average of $69.09.

Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last released its earnings results on Thursday, March 19th. The company reported ($2.11) EPS for the quarter, missing the consensus estimate of ($2.08) by ($0.03). As a group, analysts expect that Inhibrx Biosciences will post 104.88 EPS for the current year.

Institutional Trading of Inhibrx Biosciences

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Inhibrx Biosciences by 26.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 707 shares of the company's stock valued at $56,000 after purchasing an additional 147 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in shares of Inhibrx Biosciences by 1.3% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 22,883 shares of the company's stock valued at $1,808,000 after purchasing an additional 299 shares during the period. Persistent Asset Partners Ltd acquired a new stake in shares of Inhibrx Biosciences in the fourth quarter valued at about $27,000. BNP Paribas Financial Markets lifted its stake in shares of Inhibrx Biosciences by 71.9% in the third quarter. BNP Paribas Financial Markets now owns 1,886 shares of the company's stock valued at $64,000 after purchasing an additional 789 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of Inhibrx Biosciences in the fourth quarter valued at about $66,000. Institutional investors and hedge funds own 82.46% of the company's stock.

About Inhibrx Biosciences

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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