Inhibrx Biosciences, Inc. (NASDAQ:INBX) Receives $150.00 Consensus Target Price from Analysts

Inhibrx Biosciences, Inc. (NASDAQ:INBX) has earned an average rating of “Hold” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $150.00.

A number of research analysts have commented on the company. Zacks Research upgraded Inhibrx Biosciences to a “hold” rating in a research note on Thursday, April 9th. Stifel Nicolaus assumed coverage on Inhibrx Biosciences in a research note on Wednesday, April 8th. They set a “buy” rating and a $150.00 price target on the stock. Wall Street Zen upgraded Inhibrx Biosciences from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Inhibrx Biosciences in a research note on Thursday, January 22nd. Finally, Lifesci Capital upgraded Inhibrx Biosciences to a “strong-buy” rating in a research note on Friday, April 24th.

Hedge Funds Weigh In On Inhibrx Biosciences

Several large investors have recently bought and sold shares of the business. Swiss National Bank purchased a new position in Inhibrx Biosciences in the first quarter valued at $968,000. Moran Wealth Management LLC purchased a new position in shares of Inhibrx Biosciences during the first quarter worth about $213,000. Janney Montgomery Scott LLC boosted its stake in shares of Inhibrx Biosciences by 16.6% during the first quarter. Janney Montgomery Scott LLC now owns 6,406 shares of the company’s stock worth $431,000 after buying an additional 911 shares during the period. Corient Private Wealth LLC acquired a new stake in shares of Inhibrx Biosciences during the fourth quarter worth about $1,615,000. Finally, Invesco Ltd. boosted its stake in shares of Inhibrx Biosciences by 539.6% during the fourth quarter. Invesco Ltd. now owns 112,396 shares of the company’s stock worth $8,879,000 after buying an additional 94,822 shares during the period. Hedge funds and other institutional investors own 82.46% of the company’s stock.

Inhibrx Biosciences Trading Down 14.8%

INBX opened at $108.65 on Wednesday. Inhibrx Biosciences has a one year low of $10.84 and a one year high of $155.29. The stock has a market capitalization of $1.59 billion, a PE ratio of -12.02 and a beta of 3.88. The business’s 50 day moving average price is $85.32 and its 200 day moving average price is $80.84. The company has a debt-to-equity ratio of 12.58, a quick ratio of 3.93 and a current ratio of 3.93.

Inhibrx Biosciences (NASDAQ:INBX) last released its quarterly earnings data on Thursday, March 19th. The company reported ($2.11) EPS for the quarter, missing analysts’ consensus estimates of ($2.08) by ($0.03). As a group, equities research analysts expect that Inhibrx Biosciences will post -11.15 EPS for the current year.

About Inhibrx Biosciences

Inhibrx, Inc, headquartered in La Jolla, California, is a clinical-stage biotechnology company focused on the discovery and development of next-generation protein therapeutics. The company’s proprietary protein engineering platform enables the design and production of multispecific and multivalent biologics with tailored binding characteristics and favorable pharmacokinetic properties. By leveraging high-throughput screening and structure-based design, Inhibrx aims to create molecules that address challenging targets in oncology, regenerative medicine and other areas of unmet medical need.

The company’s lead candidate, INBRX-109, is a tetravalent agonist of the receptor tyrosine kinase ROR2 designed to stimulate tissue repair and regeneration.