Inhibrx Biosciences, Inc. (NASDAQ:INBX) Given Consensus Recommendation of “Hold” by Analysts

Shares of Inhibrx Biosciences, Inc. (NASDAQ:INBX) have been assigned an average recommendation of “Hold” from the six analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $150.00.

Several equities analysts recently commented on INBX shares. Stifel Nicolaus started coverage on Inhibrx Biosciences in a research report on Wednesday, April 8th. They set a “buy” rating and a $150.00 target price for the company. Wall Street Zen downgraded Inhibrx Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Zacks Research raised Inhibrx Biosciences to a “hold” rating in a report on Thursday, April 9th. Finally, Lifesci Capital raised Inhibrx Biosciences to a “strong-buy” rating in a report on Friday, April 24th.

Institutional Investors Weigh In On Inhibrx Biosciences

Hedge funds and other institutional investors have recently bought and sold shares of the business. Persistent Asset Partners Ltd acquired a new stake in Inhibrx Biosciences during the 4th quarter valued at $27,000. Strs Ohio acquired a new stake in Inhibrx Biosciences during the 1st quarter valued at $27,000. Public Employees Retirement System of Ohio acquired a new stake in Inhibrx Biosciences during the 3rd quarter valued at $40,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Inhibrx Biosciences by 26.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 707 shares of the company’s stock valued at $56,000 after purchasing an additional 147 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Inhibrx Biosciences by 71.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,886 shares of the company’s stock valued at $64,000 after purchasing an additional 789 shares in the last quarter. 82.46% of the stock is owned by institutional investors and hedge funds.

Inhibrx Biosciences Price Performance

Shares of INBX stock opened at $103.95 on Friday. The company has a current ratio of 6.46, a quick ratio of 6.46 and a debt-to-equity ratio of 12.58. The company has a market capitalization of $1.52 billion, a P/E ratio of -12.39 and a beta of 3.88. Inhibrx Biosciences has a 12 month low of $12.72 and a 12 month high of $155.29. The stock has a 50 day moving average of $94.72 and a two-hundred day moving average of $84.06.

Inhibrx Biosciences (NASDAQ:INBX) last posted its earnings results on Thursday, May 14th. The company reported ($2.15) EPS for the quarter, missing the consensus estimate of ($1.68) by ($0.47). As a group, equities analysts expect that Inhibrx Biosciences will post -10.15 EPS for the current year.

About Inhibrx Biosciences

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.