Brokerages Set Inhibrx Biosciences, Inc. (NASDAQ:INBX) Price Target at $150.00

Inhibrx Biosciences, Inc. (NASDAQ:INBX) has been given a consensus rating of “Hold” by the six analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $150.00.

A number of research analysts recently weighed in on INBX shares. Stifel Nicolaus started coverage on Inhibrx Biosciences in a report on Wednesday, April 8th. They issued a “buy” rating and a $150.00 target price on the stock. Zacks Research upgraded Inhibrx Biosciences to a “hold” rating in a report on Thursday, April 9th. Wall Street Zen cut Inhibrx Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Finally, Lifesci Capital upgraded Inhibrx Biosciences to a “strong-buy” rating in a research note on Friday, April 24th.

Inhibrx Biosciences Price Performance

Shares of Inhibrx Biosciences stock opened at $87.01 on Friday. Inhibrx Biosciences has a twelve month low of $13.11 and a twelve month high of $155.29. The stock has a market capitalization of $1.28 billion, a P/E ratio of -10.37 and a beta of 3.31. The company has a current ratio of 6.46, a quick ratio of 6.46 and a debt-to-equity ratio of 12.58. The business’s fifty day moving average price is $97.65 and its 200 day moving average price is $84.64.

Inhibrx Biosciences (NASDAQ:INBX) last issued its earnings results on Thursday, May 14th. The company reported ($2.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.47). As a group, research analysts anticipate that Inhibrx Biosciences will post -10.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of INBX. Morgan Stanley lifted its stake in shares of Inhibrx Biosciences by 163.7% during the fourth quarter. Morgan Stanley now owns 1,167,728 shares of the company’s stock worth $92,251,000 after purchasing an additional 724,872 shares in the last quarter. Capital Research Global Investors acquired a new position in shares of Inhibrx Biosciences during the fourth quarter worth about $33,304,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Inhibrx Biosciences during the fourth quarter worth about $20,856,000. Caligan Partners LP acquired a new position in shares of Inhibrx Biosciences during the third quarter worth about $7,961,000. Finally, State Street Corp lifted its stake in shares of Inhibrx Biosciences by 83.9% during the fourth quarter. State Street Corp now owns 374,961 shares of the company’s stock worth $29,622,000 after purchasing an additional 171,038 shares in the last quarter. Institutional investors and hedge funds own 82.46% of the company’s stock.

Inhibrx Biosciences Company Profile

Inhibrx, Inc, headquartered in La Jolla, California, is a clinical-stage biotechnology company focused on the discovery and development of next-generation protein therapeutics. The company’s proprietary protein engineering platform enables the design and production of multispecific and multivalent biologics with tailored binding characteristics and favorable pharmacokinetic properties. By leveraging high-throughput screening and structure-based design, Inhibrx aims to create molecules that address challenging targets in oncology, regenerative medicine and other areas of unmet medical need.

The company’s lead candidate, INBRX-109, is a tetravalent agonist of the receptor tyrosine kinase ROR2 designed to stimulate tissue repair and regeneration.