Brokerages Set MBX Biosciences, Inc. (NASDAQ:MBX) Target Price at $60.22

MBX Biosciences, Inc. (NASDAQ:MBX) has been given an average recommendation of “Moderate Buy” by the thirteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, ten have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $60.2222.

MBX has been the topic of several research analyst reports. Lifesci Capital upgraded shares of MBX Biosciences to a “strong-buy” rating in a research report on Tuesday, March 31st. Stifel Nicolaus set a $56.00 target price on shares of MBX Biosciences in a research report on Tuesday, May 12th. UBS Group restated a “buy” rating on shares of MBX Biosciences in a research report on Tuesday, February 24th. TD Cowen restated a “buy” rating on shares of MBX Biosciences in a research report on Thursday, March 12th. Finally, Truist Financial boosted their target price on shares of MBX Biosciences from $50.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, May 11th.

MBX Biosciences Price Performance

NASDAQ:MBX opened at $35.51 on Tuesday. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -16.07 and a beta of 0.75. MBX Biosciences has a 1-year low of $9.43 and a 1-year high of $45.85. The firm’s fifty day moving average price is $32.49 and its 200 day moving average price is $32.97.

MBX Biosciences (NASDAQ:MBX) last issued its earnings results on Thursday, March 12th. The company reported ($0.49) EPS for the quarter, topping the consensus estimate of ($0.64) by $0.15. As a group, analysts expect that MBX Biosciences will post -2.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MBX Biosciences

Several institutional investors have recently made changes to their positions in MBX. Hudson Bay Capital Management LP acquired a new position in shares of MBX Biosciences during the 3rd quarter worth $1,488,000. Ghisallo Capital Management LLC acquired a new position in shares of MBX Biosciences during the 3rd quarter worth $669,000. Aaron Wealth Advisors LLC raised its stake in shares of MBX Biosciences by 40.0% during the 4th quarter. Aaron Wealth Advisors LLC now owns 70,000 shares of the company’s stock worth $2,208,000 after buying an additional 20,000 shares during the last quarter. Goelzer Investment Management Inc. acquired a new position in shares of MBX Biosciences during the 4th quarter worth $6,992,000. Finally, Baker BROS. Advisors LP acquired a new position in shares of MBX Biosciences during the 3rd quarter worth $4,861,000.

MBX Biosciences Company Profile

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.