Analysts Set MBX Biosciences, Inc. (NASDAQ:MBX) Price Target at $77.00

Shares of MBX Biosciences, Inc. (NASDAQ:MBX) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, ten have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $77.00.

MBX has been the subject of a number of research analyst reports. Truist Financial upped their price target on MBX Biosciences from $70.00 to $88.00 and gave the company a “buy” rating in a report on Monday, August 10th. Wall Street Zen downgraded shares of MBX Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of MBX Biosciences in a research report on Friday, July 17th. Mizuho upped their price objective on shares of MBX Biosciences from $57.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Finally, Barclays reaffirmed an “overweight” rating and set a $88.00 price objective on shares of MBX Biosciences in a report on Friday, August 7th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in shares of MBX Biosciences by 55.9% in the second quarter. Wellington Management Group LLP now owns 4,977,523 shares of the company’s stock valued at $274,759,000 after acquiring an additional 1,785,699 shares during the period. BlackRock Inc. purchased a new stake in MBX Biosciences in the 2nd quarter valued at $183,467,000. Parkman Healthcare Partners LLC acquired a new stake in MBX Biosciences during the 2nd quarter worth $44,170,000. Aaron Wealth Advisors LLC grew its position in MBX Biosciences by 1,568.8% during the 1st quarter. Aaron Wealth Advisors LLC now owns 1,168,176 shares of the company’s stock worth $34,870,000 after purchasing an additional 1,098,176 shares during the last quarter. Finally, Eventide Asset Management LLC acquired a new position in MBX Biosciences in the fourth quarter valued at $28,071,000.

MBX Biosciences Price Performance

NASDAQ:MBX opened at $57.89 on Thursday. 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 $2.79 billion, a PE ratio of -24.02 and a beta of 0.04. The business’s fifty day moving average price is $63.73 and its 200 day moving average price is $46.29.

MBX Biosciences (NASDAQ:MBX) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.10). As a group, equities analysts anticipate that MBX Biosciences will post -3.04 EPS for the current year.

About MBX Biosciences

MBX Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing precision peptide therapies for endocrine and metabolic disorders. The company uses its Precision Empowered Peptide platform to design peptide medicines intended to provide targeted biological activity, extended duration and improved dosing convenience.

MBX’s lead product candidate is MBX 2109, an investigational long-acting parathyroid hormone replacement therapy being developed for people with hypoparathyroidism.