MBX Biosciences (NASDAQ:MBX) Stock Rated “Buy” in New Coverage at HC Wainwright

Stock analysts at HC Wainwright assumed coverage on shares of MBX Biosciences (NASDAQ:MBX) in a report released on Thursday, Marketbeat.com reports. The brokerage set a “buy” rating and a $90.00 price target on the stock. HC Wainwright‘s target price would indicate a potential upside of 55.93% from the stock’s current price.

MBX has been the subject of a number of other research reports. Citigroup restated a “market outperform” rating on shares of MBX Biosciences in a report on Tuesday, October 27th. Stifel Nicolaus lifted their target price on MBX Biosciences from $70.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, October 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of MBX Biosciences in a research note on Thursday, October 15th. Wall Street Zen cut shares of MBX Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Truist Financial raised their price target on shares of MBX Biosciences from $70.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $87.30.

MBX Biosciences Stock Performance

Shares of NASDAQ:MBX opened at $57.72 on Thursday. MBX Biosciences has a 1 year low of $23.07 and a 1 year high of $72.64. The business has a 50 day simple moving average of $56.02 and a two-hundred day simple moving average of $46.20.

MBX Biosciences (NASDAQ:MBX) last issued its quarterly earnings results on Monday, November 9th. The company reported ($1.29) earnings per share for the quarter, missing the consensus estimate of ($0.80) by ($0.49). As a group, equities research analysts predict that MBX Biosciences will post -3.10 EPS for the current fiscal year.

Hedge Funds Weigh In On MBX Biosciences

Several large investors have recently made changes to their positions in MBX. Voya Investment Management LLC boosted its holdings in MBX Biosciences by 117.8% during the third quarter. Voya Investment Management LLC now owns 56,914 shares of the company’s stock worth $3,336,000 after buying an additional 30,782 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in MBX Biosciences by 15.6% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 29,336 shares of the company’s stock valued at $1,720,000 after buying an additional 3,959 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in MBX Biosciences by 147.4% in the third quarter. Russell Investments Group Ltd. now owns 44,925 shares of the company’s stock valued at $2,634,000 after buying an additional 26,763 shares in the last quarter. Alps Advisors Inc. raised its position in shares of MBX Biosciences by 32.9% in the third quarter. Alps Advisors Inc. now owns 63,800 shares of the company’s stock worth $3,740,000 after acquiring an additional 15,788 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of MBX Biosciences in the third quarter worth about $144,000.

MBX Biosciences Company Profile

MBX Biosciences, Inc. is a clinical-stage biopharmaceutical company developing peptide-based treatments for endocrine and metabolic disorders. The company’s research focuses on conditions in which naturally occurring hormones are deficient or do not function adequately. MBX uses its Precision Endocrine Peptide (PEP) platform to design peptide medicines intended to provide more durable hormone activity. Its lead candidate, MBX 2109, is being developed as a long-acting parathyroid hormone replacement therapy for people with chronic hypoparathyroidism.