MBX Biosciences (NASDAQ:MBX) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

MBX Biosciences (NASDAQ:MBX) had its target price increased by research analysts at Stifel Nicolaus from $70.00 to $84.00 in a research note issued to investors on Monday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 71.43% from the company’s previous close.

Several other research firms have also recently issued reports on MBX. Wall Street Zen cut MBX Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. JPMorgan Chase & Co. began coverage on MBX Biosciences in a research note on Friday, August 21st. They set an “overweight” rating and a $88.00 price objective for the company. Truist Financial raised their price objective on MBX Biosciences from $70.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. Guggenheim lifted their target price on MBX Biosciences from $88.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, October 2nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBX Biosciences in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $87.00.

MBX Biosciences Trading Down 5.8%

NASDAQ MBX opened at $49.00 on Monday. MBX Biosciences has a 12 month low of $12.94 and a 12 month high of $72.64. The company’s 50 day simple moving average is $61.67 and its 200 day simple moving average is $48.92.

MBX Biosciences (NASDAQ:MBX) last issued its earnings results on Thursday, August 6th. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.10). On average, sell-side analysts anticipate that MBX Biosciences will post -3.10 EPS for the current fiscal year.

Institutional Trading of MBX Biosciences

A number of hedge funds have recently bought and sold shares of the company. Bank of America Corp DE acquired a new stake in MBX Biosciences during the 2nd quarter valued at $16,501,000. The Manufacturers Life Insurance Company lifted its holdings in shares of MBX Biosciences by 30.3% in the first quarter. The Manufacturers Life Insurance Company now owns 90,634 shares of the company’s stock valued at $2,705,000 after purchasing an additional 21,083 shares in the last quarter. Elmind Capital LP purchased a new stake in shares of MBX Biosciences in the second quarter valued at $5,023,200. California State Teachers Retirement System boosted its position in shares of MBX Biosciences by 1,197.9% in the first quarter. California State Teachers Retirement System now owns 22,765 shares of the company’s stock worth $680,000 after buying an additional 21,011 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of MBX Biosciences in the first quarter worth $1,396,000.

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.