Inhibrx Biosciences (NASDAQ:INBX) Upgraded at Lifesci Capital

Key Points

• Lifesci Capital upgraded Inhibrx to a "strong-buy", though analyst sentiment is mixed—one Strong Buy, one Buy, three Hold and one Sell—yielding a consensus rating of Hold and an average price target of $150.00.
• Shares opened at $129.06 with a market cap of $1.89 billion and a negative PE; the company reported quarterly EPS of ($2.11), missing estimates, and analysts forecast roughly -11.15 EPS for the current fiscal year.
• Inhibrx is a clinical-stage biotech developing multispecific protein therapeutics, with lead candidate INBRX-109 (a tetravalent ROR2 agonist) aimed at stimulating tissue repair and regeneration.

Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) was upgraded by equities research analysts at Lifesci Capital to a "strong-buy" rating in a report released on Friday,Zacks.com reports.

Several other brokerages have also commented on INBX. Wall Street Zen lowered shares of Inhibrx Biosciences from a "hold" rating to a "sell" rating in a report on Saturday, April 11th. Stifel Nicolaus began coverage on shares of Inhibrx Biosciences in a report on Wednesday, April 8th. They issued a "buy" rating and a $150.00 price target for the company. Weiss Ratings reissued a "sell (d)" rating on shares of Inhibrx Biosciences in a report on Thursday, January 22nd. Finally, Zacks Research raised shares of Inhibrx Biosciences to a "hold" rating in a report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $150.00.

Inhibrx Biosciences Price Performance

Shares of NASDAQ INBX opened at $129.06 on Friday. The firm has a market cap of $1.89 billion, a PE ratio of -14.28 and a beta of 1.82. The firm has a fifty day moving average of $75.37 and a 200 day moving average of $73.74. The company has a debt-to-equity ratio of 12.58, a quick ratio of 3.93 and a current ratio of 3.93. Inhibrx Biosciences has a one year low of $10.84 and a one year high of $155.29.

Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last issued its quarterly 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, research analysts predict that Inhibrx Biosciences will post -11.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Inhibrx Biosciences

A number of large investors have recently modified their holdings of INBX. Strs Ohio purchased a new stake in shares of Inhibrx Biosciences during the first quarter worth $27,000. Russell Investments Group Ltd. grew its holdings in shares of Inhibrx Biosciences by 11.0% during the second quarter. Russell Investments Group Ltd. now owns 29,993 shares of the company's stock worth $428,000 after buying an additional 2,963 shares in the last quarter. Invesco Ltd. purchased a new stake in shares of Inhibrx Biosciences during the second quarter worth $193,000. Bank of America Corp DE grew its holdings in shares of Inhibrx Biosciences by 19.2% during the second quarter. Bank of America Corp DE now owns 9,130 shares of the company's stock worth $130,000 after buying an additional 1,469 shares in the last quarter. Finally, Bridgeway Capital Management LLC purchased a new stake in shares of Inhibrx Biosciences during the second quarter worth $235,000. Hedge funds and other institutional investors 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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