Analysts Set Inhibrx Biosciences, Inc. (NASDAQ:INBX) PT at $150.00

Inhibrx Biosciences, Inc. (NASDAQ:INBX) has earned a consensus recommendation of “Hold” from the six research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $150.00.

Several equities research analysts have issued reports on INBX shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Inhibrx Biosciences in a research report on Tuesday, June 16th. Lifesci Capital raised shares of Inhibrx Biosciences to a “strong-buy” rating in a report on Friday, April 24th. Finally, Wall Street Zen cut shares of Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a research report on Monday.

Inhibrx Biosciences Price Performance

Shares of NASDAQ INBX opened at $94.62 on Friday. The firm has a market capitalization of $1.39 billion, a P/E ratio of -10.66 and a beta of 3.51. The company has a quick ratio of 5.07, a current ratio of 5.07 and a debt-to-equity ratio of 12.58. The stock’s 50-day simple moving average is $91.04 and its two-hundred day simple moving average is $88.87. Inhibrx Biosciences has a twelve month low of $22.40 and a twelve month high of $155.29.

Inhibrx Biosciences (NASDAQ:INBX) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($2.34) EPS for the quarter, missing the consensus estimate of ($2.28) by ($0.06). As a group, equities analysts anticipate that Inhibrx Biosciences will post -10.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in INBX. PSP Research LLC bought a new stake in Inhibrx Biosciences during the fourth quarter worth about $505,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Inhibrx Biosciences during the 4th quarter valued at about $20,856,000. SummitTX Capital L.P. increased its position in shares of Inhibrx Biosciences by 66.3% during the 1st quarter. SummitTX Capital L.P. now owns 137,821 shares of the company’s stock valued at $9,266,000 after purchasing an additional 54,936 shares during the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of Inhibrx Biosciences during the 4th quarter valued at about $703,000. Finally, Swiss National Bank purchased a new position in shares of Inhibrx Biosciences during the 1st quarter valued at about $968,000. Institutional investors 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.