MBX Biosciences, Inc. (NYSE:MBX) Receives $37.63 Average PT from Analysts

Key Points

• MBX Biosciences, Inc. has received a consensus recommendation of "Buy" from eight brokerages with an average 12-month price target of $37.63.
• The stock has experienced an increase of 11.3%, currently trading at $12.53, with a market capitalization of $418.80 million.
• MBX Biosciences is a clinical-stage biopharmaceutical company focused on precision peptide therapies for endocrine and metabolic disorders, with its lead product in Phase 2 trials.

MBX Biosciences, Inc. (NYSE:MBX - Get Free Report) has received a consensus recommendation of "Buy" from the eight research firms that are currently covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a buy rating. The average 12 month price objective among brokerages that have covered the stock in the last year is $37.6250.

A number of equities research analysts have weighed in on the company. Oppenheimer assumed coverage on MBX Biosciences in a research report on Wednesday, July 16th. They issued an "outperform" rating and a $38.00 target price for the company. Mizuho started coverage on MBX Biosciences in a research report on Tuesday, August 5th. They set an "outperform" rating and a $38.00 price objective for the company.

MBX Biosciences Stock Up 11.4%

Shares of NYSE:MBX traded up $1.51 during trading on Wednesday, hitting $14.72. 577,730 shares of the company traded hands, compared to its average volume of 329,571. The stock has a market capitalization of $494.50 million and a price-to-earnings ratio of -3.24. MBX Biosciences has a one year low of $4.81 and a one year high of $27.50. The business's fifty day moving average is $12.21 and its 200-day moving average is $10.62.

Hedge Funds Weigh In On MBX Biosciences

Hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets acquired a new position in MBX Biosciences during the fourth quarter worth $27,000. Virtus ETF Advisers LLC acquired a new position in MBX Biosciences during the fourth quarter worth $64,000. New York State Common Retirement Fund acquired a new position in MBX Biosciences during the first quarter worth $32,000. Deutsche Bank AG acquired a new position in MBX Biosciences during the fourth quarter worth $80,000. Finally, Corebridge Financial Inc. acquired a new position in MBX Biosciences during the fourth quarter worth $103,000.

About MBX Biosciences

MBX Biosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of precision peptide therapies for the treatment of endocrine and metabolic disorders. Its lead product candidate is MBX 2109, a parathyroid hormone peptide prodrug, which is in Phase 2 clinical trial designed as a potential long-acting hormone replacement therapy for the treatment of chronic hypoparathyroidism.