MBX Biosciences (NASDAQ:MBX) Coverage Initiated by Analysts at JPMorgan Chase & Co.

Investment analysts at JPMorgan Chase & Co. initiated coverage on shares of MBX Biosciences (NASDAQ:MBX) in a research report issued to clients and investors on Friday. The firm set an “overweight” rating and a $88.00 price target on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 32.09% from the stock’s current price.

A number of other brokerages have also recently commented on MBX. Citizens Jmp upped their price target on MBX Biosciences from $76.00 to $86.00 and gave the company a “market outperform” rating in a research report on Tuesday, May 12th. UBS Group reiterated a “buy” rating and issued a $90.00 target price on shares of MBX Biosciences in a research note on Thursday, July 23rd. Weiss Ratings reissued a “sell (d-)” rating on shares of MBX Biosciences in a research report on Friday, July 17th. Barclays restated an “overweight” rating and set a $88.00 price target on shares of MBX Biosciences in a research note on Friday, August 7th. Finally, Mizuho raised their price objective on shares of MBX Biosciences from $57.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $77.00.

MBX Biosciences Stock Performance

Shares of NASDAQ MBX traded up $0.27 during midday trading on Friday, hitting $66.62. 32,662 shares of the stock traded hands, compared to its average volume of 678,240. The business has a 50 day moving average price of $58.69 and a two-hundred day moving average price of $41.84. MBX Biosciences has a one year low of $9.63 and a one year high of $72.64. The company has a market cap of $3.21 billion, a PE ratio of -27.64 and a beta of 0.10.

MBX Biosciences (NASDAQ:MBX) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.10). As a group, equities research analysts forecast that MBX Biosciences will post -3.12 EPS for the current fiscal year.

Hedge Funds Weigh In On MBX Biosciences

A number of large investors have recently modified their holdings of the company. Russell Investments Group Ltd. increased its holdings in MBX Biosciences by 4,131.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock worth $26,000 after acquiring an additional 1,446 shares during the period. Strs Ohio grew its position in shares of MBX Biosciences by 128.6% during the 1st quarter. Strs Ohio now owns 1,600 shares of the company’s stock valued at $48,000 after purchasing an additional 900 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of MBX Biosciences by 59.6% in the fourth quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock worth $49,000 after purchasing an additional 572 shares during the period. BNP Paribas Financial Markets raised its position in shares of MBX Biosciences by 117.9% in the third quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company’s stock worth $51,000 after buying an additional 1,567 shares in the last quarter. Finally, California State Teachers Retirement System boosted its stake in MBX Biosciences by 64.7% during the fourth quarter. California State Teachers Retirement System now owns 1,754 shares of the company’s stock valued at $55,000 after buying an additional 689 shares during the period.

About MBX Biosciences

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.