Analysts Set MBX Biosciences, Inc. (NASDAQ:MBX) Target Price at $60.22

MBX Biosciences, Inc. (NASDAQ:MBX) has been given a consensus rating of “Moderate Buy” by the thirteen analysts that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $60.2222.

Several research firms have recently issued reports on MBX. Citizens Jmp boosted their price target on shares of MBX Biosciences from $76.00 to $86.00 and gave the company a “market outperform” rating in a research report on Tuesday, May 12th. Barclays boosted their price target on shares of MBX Biosciences from $66.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Truist Financial boosted their price target on shares of MBX Biosciences from $50.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of MBX Biosciences in a research report on Tuesday, April 21st. Finally, UBS Group reiterated a “buy” rating on shares of MBX Biosciences in a research note on Tuesday, February 24th.

MBX Biosciences Stock Up 9.8%

NASDAQ MBX opened at $38.98 on Tuesday. The company’s 50 day moving average is $32.61 and its 200-day moving average is $33.03. MBX Biosciences has a 12-month low of $9.43 and a 12-month high of $45.85. The firm has a market cap of $1.86 billion, a P/E ratio of -17.64 and a beta of 0.75.

Institutional Investors Weigh In On MBX Biosciences

Hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. increased its position in shares of MBX Biosciences by 4,131.4% during the third quarter. Russell Investments Group Ltd. now owns 1,481 shares of the company’s stock valued at $26,000 after buying an additional 1,446 shares during the period. FNY Investment Advisers LLC purchased a new position in MBX Biosciences during the third quarter valued at approximately $27,000. GF Fund Management CO. LTD. purchased a new position in MBX Biosciences during the fourth quarter valued at approximately $28,000. Strs Ohio grew its stake in MBX Biosciences by 128.6% during the first quarter. Strs Ohio now owns 1,600 shares of the company’s stock valued at $48,000 after acquiring an additional 900 shares in the last quarter. Finally, Royal Bank of Canada grew 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 valued at $49,000 after acquiring an additional 572 shares in the last quarter.

About MBX Biosciences

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.