Brokerages Set Inhibrx Biosciences, Inc. (NASDAQ:INBX) PT at $150.00

Inhibrx Biosciences, Inc. (NASDAQ:INBX) has earned a consensus rating of “Hold” from the six analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $150.00.

Several brokerages recently issued reports on INBX. Stifel Nicolaus began coverage on Inhibrx Biosciences in a research report on Wednesday, April 8th. They issued a “buy” rating and a $150.00 price target on the stock. Lifesci Capital upgraded Inhibrx Biosciences to a “strong-buy” rating in a research report on Friday, April 24th. Wall Street Zen cut Inhibrx Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Finally, Zacks Research upgraded Inhibrx Biosciences to a “hold” rating in a research report on Thursday, April 9th.

Hedge Funds Weigh In On Inhibrx Biosciences

Several institutional investors have recently added to or reduced their stakes in the stock. Perceptive Advisors LLC increased its position in Inhibrx Biosciences by 9.4% in the 4th quarter. Perceptive Advisors LLC now owns 1,452,707 shares of the company’s stock valued at $114,764,000 after acquiring an additional 125,000 shares during the period. Morgan Stanley increased its position in Inhibrx Biosciences by 163.7% during the 4th quarter. Morgan Stanley now owns 1,167,728 shares of the company’s stock worth $92,251,000 after purchasing an additional 724,872 shares during the period. Sofinnova Investments Inc. increased its position in Inhibrx Biosciences by 1.5% during the 2nd quarter. Sofinnova Investments Inc. now owns 708,678 shares of the company’s stock worth $10,113,000 after purchasing an additional 10,762 shares during the period. Vanguard Group Inc. increased its position in Inhibrx Biosciences by 4.7% during the 4th quarter. Vanguard Group Inc. now owns 623,084 shares of the company’s stock worth $49,224,000 after purchasing an additional 28,166 shares during the period. Finally, Capital Research Global Investors acquired a new position in Inhibrx Biosciences during the 4th quarter worth approximately $33,304,000. Institutional investors and hedge funds own 82.46% of the company’s stock.

Inhibrx Biosciences Stock Down 4.2%

Inhibrx Biosciences stock opened at $91.25 on Friday. The company has a market capitalization of $1.34 billion, a P/E ratio of -10.88 and a beta of 3.31. Inhibrx Biosciences has a fifty-two week low of $12.80 and a fifty-two week high of $155.29. The stock has a 50-day simple moving average of $97.24 and a 200-day simple moving average of $84.62. The company has a debt-to-equity ratio of 12.58, a quick ratio of 6.46 and a current ratio of 6.46.

Inhibrx Biosciences (NASDAQ:INBX) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($2.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.68) by ($0.47). Equities research analysts expect that Inhibrx Biosciences will post -10.15 earnings per share for the current year.

Inhibrx Biosciences Company Profile

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.