MBX Biosciences (NASDAQ:MBX) Price Target Raised to $84.00

MBX Biosciences (NASDAQ:MBX) had its target price hoisted by Stifel Nicolaus from $70.00 to $84.00 in a report issued on Monday morning, Marketbeat reports. Stifel Nicolaus currently has a buy rating on the stock.

MBX has been the topic of a number of other research reports. Wall Street Zen lowered MBX Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. UBS Group restated a “buy” rating on shares of MBX Biosciences in a research note on Monday, September 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBX Biosciences in a report on Friday, July 17th. Barclays reiterated an “overweight” rating and issued a $88.00 price objective on shares of MBX Biosciences in a research report on Friday, August 7th. Finally, JPMorgan Chase & Co. initiated coverage on shares of MBX Biosciences in a research report on Friday, August 21st. They issued an “overweight” rating and a $88.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $87.00.

MBX Biosciences Stock Performance

Shares of MBX stock opened at $48.82 on Monday. The stock’s 50-day moving average price is $61.30 and its 200 day moving average price is $49.06. MBX Biosciences has a 52-week low of $12.94 and a 52-week high of $72.64.

MBX Biosciences (NASDAQ:MBX) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.10). As a group, equities research analysts anticipate that MBX Biosciences will post -3.10 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Strs Ohio lifted its position in MBX Biosciences by 128.6% in the first quarter. Strs Ohio now owns 1,600 shares of the company’s stock valued at $48,000 after purchasing an additional 900 shares during the period. State of Wyoming purchased a new stake in MBX Biosciences in the 2nd quarter valued at approximately $58,000. Sei Investments Co. boosted its holdings in MBX Biosciences by 17.4% in the 1st quarter. Sei Investments Co. now owns 8,989 shares of the company’s stock valued at $268,000 after purchasing an additional 1,332 shares in the last quarter. Quantbot Technologies LP acquired a new position in MBX Biosciences during the 2nd quarter worth approximately $213,000. Finally, Bank of New York Mellon Corp increased its position in MBX Biosciences by 6.6% during the 1st quarter. Bank of New York Mellon Corp now owns 80,222 shares of the company’s stock worth $2,395,000 after purchasing an additional 4,960 shares during the period.

About MBX Biosciences

MBX Biosciences, Inc is a clinical-stage biopharmaceutical company focused on developing peptide therapies for endocrine and metabolic disorders. The company uses its Precision Endocrine Peptide platform to design engineered peptides intended to provide targeted activity, extended duration and more consistent treatment effects.

MBX’s lead program, MBX 1416, is an investigational long-acting parathyroid hormone receptor agonist being developed as a potential replacement therapy for people with hypoparathyroidism, a disorder in which the body produces insufficient parathyroid hormone.