MBX Biosciences (NASDAQ:MBX) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of MBX Biosciences (NASDAQ:MBX) in a research report report published on Friday morning, MarketBeat reports. The brokerage issued an overweight rating and a $88.00 target price on the stock.

MBX has been the topic of several other research reports. Barclays reissued an “overweight” rating and issued a $88.00 price target on shares of MBX Biosciences in a report on Friday, August 7th. Truist Financial raised their target price on MBX Biosciences from $70.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Citizens Jmp boosted their price target on MBX Biosciences from $76.00 to $86.00 and gave the company a “market outperform” rating in a research note on Tuesday, May 12th. Wall Street Zen cut MBX Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, UBS Group reiterated a “buy” rating and set a $90.00 price objective on shares of MBX Biosciences in a research note on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.00.

MBX Biosciences Stock Performance

Shares of NASDAQ:MBX opened at $66.33 on Friday. The stock’s 50-day moving average is $59.31 and its 200-day moving average is $42.03. The company has a market cap of $3.19 billion, a P/E ratio of -27.52 and a beta of 0.09. MBX Biosciences has a 52-week low of $9.63 and a 52-week high of $72.64.

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). As a group, equities analysts predict that MBX Biosciences will post -3.12 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. State of Wyoming bought a new stake in MBX Biosciences during the 2nd quarter worth approximately $58,000. Russell Investments Group Ltd. raised its position in MBX Biosciences by 4,131.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock valued at $26,000 after purchasing an additional 1,446 shares during the last quarter. Royal Bank of Canada raised its position in MBX Biosciences by 59.6% in the 4th quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock valued at $49,000 after purchasing an additional 572 shares during the last quarter. Strs Ohio boosted its stake in MBX Biosciences by 128.6% in the first quarter. Strs Ohio now owns 1,600 shares of the company’s stock worth $48,000 after purchasing an additional 900 shares in the last quarter. Finally, California State Teachers Retirement System boosted its stake in MBX Biosciences by 64.7% in the fourth quarter. California State Teachers Retirement System now owns 1,754 shares of the company’s stock worth $55,000 after purchasing an additional 689 shares in the last quarter.

MBX Biosciences Company Profile

We are a clinical-stage biopharmaceutical company focused on the discovery and development of novel precision peptide therapies for the treatment of endocrine and metabolic disorders. Our company was founded by global leaders with a transformative approach to peptide drug design and development. Leveraging this expertise, we designed our proprietary Precision Endocrine Peptide™, or PEPTM, platform to overcome the key limitations of unmodified and modified peptide therapies and to improve clinical outcomes and simplify disease management for patients.