Brokerages Set MBX Biosciences, Inc. (NASDAQ:MBX) PT at $77.00

Shares of MBX Biosciences, Inc. (NASDAQ:MBX) have received an average recommendation of “Moderate Buy” from the thirteen research firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $77.00.

A number of research analysts have weighed in on MBX shares. Barclays reaffirmed an “overweight” rating and issued a $88.00 price target on shares of MBX Biosciences in a research note on Friday, August 7th. Mizuho increased their price objective on shares of MBX Biosciences from $57.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Truist Financial raised their price objective on shares of MBX Biosciences from $70.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, August 10th. UBS Group reiterated a “buy” rating and set a $90.00 price objective on shares of MBX Biosciences in a report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. began coverage on MBX Biosciences in a research report on Friday, August 21st. They set an “overweight” rating and a $88.00 price target for the company.

MBX Biosciences Price Performance

Shares of MBX Biosciences stock opened at $62.91 on Thursday. The company has a market capitalization of $3.03 billion, a P/E ratio of -26.10 and a beta of 0.04. The business has a 50-day moving average of $63.66 and a two-hundred day moving average of $45.59. MBX Biosciences has a 1 year low of $9.66 and a 1 year high of $72.64.

MBX Biosciences (NASDAQ:MBX) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.68) by ($0.10). On average, equities analysts anticipate that MBX Biosciences will post -3.04 EPS for the current fiscal year.

Institutional Investors Weigh In On MBX Biosciences

Large investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in MBX Biosciences during the second quarter worth $183,467,000. Wellington Management Group LLP lifted its stake in MBX Biosciences by 55.9% in the second quarter. Wellington Management Group LLP now owns 4,977,523 shares of the company’s stock valued at $274,759,000 after acquiring an additional 1,785,699 shares during the last quarter. Aaron Wealth Advisors LLC lifted its stake in MBX Biosciences by 1,568.8% in the first quarter. Aaron Wealth Advisors LLC now owns 1,168,176 shares of the company’s stock valued at $34,870,000 after acquiring an additional 1,098,176 shares during the last quarter. Eventide Asset Management LLC bought a new position in shares of MBX Biosciences in the 4th quarter valued at about $28,071,000. Finally, Parkman Healthcare Partners LLC bought a new position in shares of MBX Biosciences in the 2nd quarter valued at about $44,170,000.

About MBX Biosciences

MBX Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing precision peptide therapies for endocrine and metabolic disorders. The company uses its Precision Empowered Peptide platform to design peptide medicines intended to provide targeted biological activity, extended duration and improved dosing convenience.

MBX’s lead product candidate is MBX 2109, an investigational long-acting parathyroid hormone replacement therapy being developed for people with hypoparathyroidism.