Brokerages Set MBX Biosciences, Inc. (NASDAQ:MBX) Target Price at $53.25

Shares of MBX Biosciences, Inc. (NASDAQ:MBX) have earned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $53.25.

MBX has been the topic of a number of research reports. Lifesci Capital upgraded shares of MBX Biosciences to a “strong-buy” rating in a research note on Tuesday, March 31st. Barclays began coverage on shares of MBX Biosciences in a report on Tuesday, January 27th. They set an “overweight” rating and a $66.00 price target for the company. Wall Street Zen lowered shares of MBX Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. TD Cowen reiterated a “buy” rating on shares of MBX Biosciences in a research note on Thursday, March 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MBX Biosciences in a research note on Thursday, January 22nd.

Insider Activity

In other MBX Biosciences news, CEO P. Kent Hawryluk purchased 18,500 shares of the company’s stock in a transaction dated Friday, March 13th. The stock was purchased at an average price of $28.41 per share, with a total value of $525,585.00. Following the completion of the purchase, the chief executive officer owned 486,777 shares of the company’s stock, valued at approximately $13,829,334.57. The trade was a 3.95% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 52.19% of the company’s stock.

Hedge Funds Weigh In On MBX Biosciences

A number of hedge funds have recently bought and sold shares of the company. CWM LLC raised its stake in MBX Biosciences by 28.9% during the fourth quarter. CWM LLC now owns 1,784 shares of the company’s stock worth $56,000 after buying an additional 400 shares during the last quarter. Royal Bank of Canada raised its stake in MBX Biosciences by 59.6% during the fourth quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock worth $49,000 after buying an additional 572 shares during the last quarter. California State Teachers Retirement System raised its stake in MBX Biosciences by 64.7% during the fourth quarter. California State Teachers Retirement System now owns 1,754 shares of the company’s stock worth $55,000 after buying an additional 689 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in MBX Biosciences during the fourth quarter worth $28,000. Finally, The Manufacturers Life Insurance Company raised its stake in MBX Biosciences by 1.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 69,551 shares of the company’s stock worth $2,155,000 after buying an additional 1,175 shares during the last quarter.

MBX Biosciences Stock Performance

Shares of MBX opened at $33.58 on Monday. MBX Biosciences has a 52 week low of $8.65 and a 52 week high of $44.89. The firm has a market cap of $1.60 billion, a P/E ratio of -13.93 and a beta of 1.25. The firm’s 50-day simple moving average is $32.13 and its 200 day simple moving average is $29.88.

MBX Biosciences (NASDAQ:MBX) last announced its quarterly earnings results on Thursday, March 12th. The company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.15. As a group, equities analysts forecast that MBX Biosciences will post -2.9 earnings per share for the current year.

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.