Mizuho Increases MBX Biosciences (NYSE:MBX) Price Target to $56.00

Key Points

• Mizuho has raised the price target for MBX Biosciences from $38.00 to $56.00, indicating a potential upside of 201.97% from the current stock price.
• MBX Biosciences has received a consensus "Buy" rating from nine research analysts, with an average price target of $39.88.
• Recent hedge fund activity shows significant investments in MBX Biosciences, with some firms increasing their stakes by over 90% in the first quarter.

MBX Biosciences (NYSE:MBX - Get Free Report) had its target price lifted by Mizuho from $38.00 to $56.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Mizuho's target price suggests a potential upside of 201.97% from the stock's current price.

Other analysts have also recently issued research reports about the stock. Oppenheimer began coverage on MBX Biosciences in a research note on Wednesday, July 16th. They issued an "outperform" rating and a $38.00 price target on the stock. Citigroup reaffirmed an "outperform" rating on shares of MBX Biosciences in a research report on Monday. Nine research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $39.88.

MBX Biosciences Price Performance

NYSE MBX traded down $0.42 during mid-day trading on Wednesday, hitting $18.55. The stock had a trading volume of 161,648 shares, compared to its average volume of 505,650. MBX Biosciences has a twelve month low of $4.81 and a twelve month high of $27.50. The stock has a market capitalization of $623.00 million and a price-to-earnings ratio of -4.08. The firm's 50 day moving average is $13.04 and its 200 day moving average is $11.11.

Hedge Funds Weigh In On MBX Biosciences

Hedge funds have recently modified their holdings of the business. Woodline Partners LP raised its stake in shares of MBX Biosciences by 44.1% during the first quarter. Woodline Partners LP now owns 877,461 shares of the company's stock worth $6,476,000 after purchasing an additional 268,740 shares during the last quarter. Parkman Healthcare Partners LLC increased its stake in MBX Biosciences by 93.1% in the 1st quarter. Parkman Healthcare Partners LLC now owns 328,323 shares of the company's stock valued at $2,423,000 after buying an additional 158,323 shares during the period. Jump Financial LLC purchased a new position in MBX Biosciences during the 1st quarter worth $214,000. Walleye Capital LLC acquired a new stake in shares of MBX Biosciences in the 1st quarter worth $240,000. Finally, Exome Asset Management LLC acquired a new stake in shares of MBX Biosciences in the 1st quarter worth $982,000.

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.

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