MBX Biosciences (NASDAQ:MBX) Stock Price Target Raised at Stifel Nicolaus

MBX Biosciences (NASDAQ:MBX) had its target price lifted by Stifel Nicolaus from $70.00 to $84.00 in a report published on Monday morning, Marketbeat Ratings reports. Stifel Nicolaus currently has a buy rating on the stock.

MBX has been the subject of a number of other research reports. Truist Financial boosted their price target on shares of MBX Biosciences from $70.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Barclays reissued an “overweight” rating and issued a $88.00 price target on shares of MBX Biosciences in a report on Friday, August 7th. Wall Street Zen cut shares of MBX Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Guggenheim lifted their price objective on shares of MBX Biosciences from $88.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, October 2nd. Finally, UBS Group reaffirmed a “buy” rating on shares of MBX Biosciences in a report on Monday, September 28th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $87.00.

MBX Biosciences Trading Down 2.3%

Shares of NASDAQ MBX opened at $52.02 on Monday. MBX Biosciences has a 12 month low of $12.94 and a 12 month high of $72.64. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of -21.59 and a beta of 0.10. The business has a 50-day moving average of $62.11 and a 200-day moving average of $48.78.

MBX Biosciences (NASDAQ:MBX) last posted 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, analysts predict that MBX Biosciences will post -3.10 earnings per share for the current year.

Hedge Funds Weigh In On MBX Biosciences

Several institutional investors have recently modified their holdings of the company. Strs Ohio lifted its position in MBX Biosciences by 128.6% in the 1st quarter. Strs Ohio now owns 1,600 shares of the company’s stock worth $48,000 after buying an additional 900 shares during the last quarter. State of Wyoming purchased a new stake in MBX Biosciences in the second quarter worth approximately $58,000. Sei Investments Co. boosted its stake in MBX Biosciences by 17.4% in the first quarter. Sei Investments Co. now owns 8,989 shares of the company’s stock worth $268,000 after buying an additional 1,332 shares in the last quarter. Quantbot Technologies LP bought a new position in MBX Biosciences during the second quarter valued at approximately $213,000. Finally, Bank of New York Mellon Corp grew its position in MBX Biosciences by 6.6% during the first quarter. Bank of New York Mellon Corp now owns 80,222 shares of the company’s stock valued at $2,395,000 after acquiring an additional 4,960 shares during the last quarter.

MBX Biosciences Company Profile

MBX Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing peptide therapies for endocrine and metabolic disorders. The company uses its Precision Endocrine Peptide platform to design engineered peptides intended to provide targeted activity, extended duration and more consistent treatment effects.

MBX’s lead program, MBX 1416, is an investigational long-acting parathyroid hormone receptor agonist being developed as a potential replacement therapy for people with hypoparathyroidism, a disorder in which the body produces insufficient parathyroid hormone.