MBX Biosciences (NASDAQ:MBX) Price Target Raised to $91.00

MBX Biosciences (NASDAQ:MBXGet Free Report) had its target price lifted by analysts at Mizuho from $57.00 to $91.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s price objective would suggest a potential upside of 45.55% from the stock’s current price.

Several other analysts have also recently issued reports on the company. Lifesci Capital upgraded MBX Biosciences to a “strong-buy” rating in a research note on Tuesday, March 31st. Citigroup reissued an “outperform” rating on shares of MBX Biosciences in a research report on Tuesday, May 12th. UBS Group reaffirmed a “buy” rating and issued a $90.00 price objective on shares of MBX Biosciences in a report on Thursday, July 23rd. Barclays boosted their target price on shares of MBX Biosciences from $66.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Finally, Truist Financial raised their price target on shares of MBX Biosciences from $50.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $71.12.

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MBX Biosciences Trading Up 4.1%

MBX stock traded up $2.46 during mid-day trading on Wednesday, hitting $62.52. 164,172 shares of the company were exchanged, compared to its average volume of 702,539. The firm has a fifty day simple moving average of $46.60 and a 200 day simple moving average of $38.38. The company has a market capitalization of $2.98 billion, a PE ratio of -28.35 and a beta of 0.16. MBX Biosciences has a twelve month low of $9.63 and a twelve month high of $66.66.

Hedge Funds Weigh In On MBX Biosciences

Several institutional investors have recently modified their holdings of MBX. Russell Investments Group Ltd. grew 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 worth $26,000 after acquiring an additional 1,446 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in MBX Biosciences in the 4th quarter valued at about $28,000. Strs Ohio boosted its stake in MBX Biosciences by 128.6% during the 1st 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. Royal Bank of Canada boosted its stake in MBX Biosciences by 59.6% during the 4th quarter. Royal Bank of Canada now owns 1,532 shares of the company’s stock valued at $49,000 after purchasing an additional 572 shares during the period. Finally, BNP Paribas Financial Markets grew its position in MBX Biosciences by 117.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,896 shares of the company’s stock worth $51,000 after purchasing an additional 1,567 shares during the last quarter.

MBX Biosciences Company Profile

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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.

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Analyst Recommendations for MBX Biosciences (NASDAQ:MBX)

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