MBX Biosciences (NYSE:MBX) Earns Buy Rating from Analysts at Stifel Nicolaus

Stock analysts at Stifel Nicolaus assumed coverage on shares of MBX Biosciences (NYSE:MBX) in a note issued to investors on Tuesday, Briefing.com reports. The brokerage set a “buy” rating and a $40.00 price target on the stock. Stifel Nicolaus’ target price indicates a potential upside of 65.29% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. assumed coverage on MBX Biosciences in a research note on Tuesday. They issued an “overweight” rating and a $30.00 price objective on the stock. Jefferies Financial Group assumed coverage on MBX Biosciences in a research report on Tuesday. They set a “buy” rating and a $35.00 price target on the stock.

MBX Biosciences Stock Performance

MBX Biosciences stock opened at $24.20 on Tuesday. MBX Biosciences has a 1 year low of $20.29 and a 1 year high of $26.19.

Insiders Place Their Bets

In related news, major shareholder Life Sciences X. L.P. Frazier acquired 625,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were bought at an average price of $16.00 per share, with a total value of $10,000,000.00. Following the completion of the transaction, the insider now directly owns 4,552,774 shares in the company, valued at $72,844,384. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other MBX Biosciences news, Director Edward T. Mathers purchased 500,000 shares of MBX Biosciences stock in a transaction dated Monday, September 16th. The shares were acquired at an average cost of $16.00 per share, with a total value of $8,000,000.00. Following the completion of the transaction, the director now owns 3,614,486 shares in the company, valued at approximately $57,831,776. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Life Sciences X. L.P. Frazier acquired 625,000 shares of the stock in a transaction dated Monday, September 16th. The stock was acquired at an average cost of $16.00 per share, with a total value of $10,000,000.00. Following the transaction, the insider now directly owns 4,552,774 shares in the company, valued at approximately $72,844,384. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

MBX Biosciences Company Profile

MBX Biosciences, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery and development of precision peptide therapies for the treatment of endocrine and metabolic disorders. Its lead product candidate is MBX 2109, a parathyroid hormone peptide prodrug, which is in Phase 2 clinical trial designed as a potential long-acting hormone replacement therapy for the treatment of chronic hypoparathyroidism.