HC Wainwright Initiates Coverage on MBX Biosciences (NASDAQ:MBX)

Analysts at HC Wainwright started coverage on shares of MBX Biosciences (NASDAQ:MBX) in a note issued to investors on Thursday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $90.00 price target on the stock. HC Wainwright‘s price objective suggests a potential upside of 55.93% from the company’s current price.

Other research analysts also recently issued reports about the company. Mizuho increased their target price on MBX Biosciences from $57.00 to $91.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. started coverage on shares of MBX Biosciences in a research report on Friday, August 21st. They issued an “overweight” rating and a $88.00 price target on the stock. Wall Street Zen downgraded shares of MBX Biosciences from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Barclays reiterated an “overweight” rating and set a $88.00 price objective on shares of MBX Biosciences in a research report on Friday, August 7th. Finally, Citigroup reiterated a “market outperform” rating on shares of MBX Biosciences in a research report on Tuesday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $87.30.

MBX Biosciences Stock Performance

Shares of MBX Biosciences stock opened at $57.72 on Thursday. The stock’s 50-day simple moving average is $56.02 and its 200-day simple moving average is $46.20. MBX Biosciences has a 52 week low of $23.07 and a 52 week high of $72.64.

MBX Biosciences (NASDAQ:MBX) last posted its 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). Research analysts predict that MBX Biosciences will post -3.10 EPS for the current fiscal year.

Institutional Investors Weigh In On MBX Biosciences

Several institutional investors have recently modified their holdings of MBX. State of Wyoming bought a new position in shares of MBX Biosciences during the 2nd quarter valued at approximately $58,000. Sterling Capital Management LLC lifted its position in MBX Biosciences by 847.7% in the third quarter. Sterling Capital Management LLC now owns 1,033 shares of the company’s stock worth $61,000 after buying an additional 924 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in MBX Biosciences during the third quarter worth $144,000. Quantbot Technologies LP purchased a new position in MBX Biosciences during the second quarter worth $213,000. Finally, Sei Investments Co. boosted its stake in MBX Biosciences by 17.4% during the first quarter. Sei Investments Co. now owns 8,989 shares of the company’s stock worth $268,000 after buying an additional 1,332 shares during the period.

About MBX Biosciences

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.