Shares of Inhibrx Biosciences, Inc. (NASDAQ:INBX – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $197.50.
Several equities analysts recently weighed in on INBX shares. Wall Street Zen lowered shares of Inhibrx Biosciences from a “hold” rating to a “strong sell” rating in a research report on Monday, August 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Inhibrx Biosciences in a research note on Tuesday, June 16th. HC Wainwright started coverage on shares of Inhibrx Biosciences in a research note on Monday, August 24th. They issued a “buy” rating and a $245.00 price objective on the stock. Finally, Citigroup reaffirmed a “market perform” rating on shares of Inhibrx Biosciences in a research report on Thursday, August 27th.
View Our Latest Report on INBX
Insider Activity
Hedge Funds Weigh In On Inhibrx Biosciences
A number of institutional investors have recently modified their holdings of INBX. Perceptive Advisors LLC increased its position in Inhibrx Biosciences by 9.4% in the fourth quarter. Perceptive Advisors LLC now owns 1,452,707 shares of the company’s stock worth $114,764,000 after purchasing an additional 125,000 shares during the period. Bank of America Corp DE bought a new stake in shares of Inhibrx Biosciences during the second quarter worth approximately $79,698,000. BlackRock Inc. bought a new stake in shares of Inhibrx Biosciences during the second quarter worth approximately $78,261,000. California State Teachers Retirement System boosted its stake in Inhibrx Biosciences by 149,396.5% in the second quarter. California State Teachers Retirement System now owns 734,028 shares of the company’s stock valued at $69,549,000 after acquiring an additional 733,537 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Inhibrx Biosciences by 4.7% in the fourth quarter. Vanguard Group Inc. now owns 623,084 shares of the company’s stock valued at $49,224,000 after acquiring an additional 28,166 shares during the last quarter. 82.46% of the stock is owned by institutional investors.
Inhibrx Biosciences Stock Up 1.1%
INBX stock opened at $110.47 on Tuesday. The firm’s 50-day moving average is $99.30 and its two-hundred day moving average is $93.64. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -12.44 and a beta of 3.66. Inhibrx Biosciences has a 52 week low of $26.19 and a 52 week high of $155.29. The company has a current ratio of 5.07, a quick ratio of 5.07 and a debt-to-equity ratio of 12.58.
Inhibrx Biosciences (NASDAQ:INBX – Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($2.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.28) by ($0.06). On average, analysts forecast that Inhibrx Biosciences will post -9.91 earnings per share for the current fiscal year.
About Inhibrx Biosciences
Inhibrx Biosciences, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing biologic medicines for serious diseases with limited treatment options. The company uses a proprietary protein-engineering platform to design novel therapeutic proteins, including multivalent and long-acting biologics intended to selectively affect disease-related biological pathways.
Inhibrx’s development programs have included INBRX-101, also known as efzofitimod, an engineered fibroblast growth factor 1 intended for the treatment of alpha-1 antitrypsin deficiency-associated emphysema and other inflammatory lung conditions.
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