Inhibrx Biosciences (NASDAQ:INBX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Inhibrx Biosciences (NASDAQ:INBX) from a sell rating to a hold rating in a research note published on Sunday morning.

A number of other brokerages also recently weighed in on INBX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Inhibrx Biosciences in a research note on Tuesday, June 16th. Lifesci Capital raised Inhibrx Biosciences to a “strong-buy” rating in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Inhibrx Biosciences currently has a consensus rating of “Hold” and a consensus price target of $150.00.

Inhibrx Biosciences Stock Down 0.8%

NASDAQ:INBX opened at $92.38 on Friday. The firm’s 50-day moving average price is $90.67 and its 200-day moving average price is $88.19. The company has a market capitalization of $1.36 billion, a PE ratio of -11.01 and a beta of 3.51. The company has a debt-to-equity ratio of 12.58, a current ratio of 6.46 and a quick ratio of 6.46. Inhibrx Biosciences has a 1-year low of $21.26 and a 1-year high of $155.29.

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). On average, equities analysts predict that Inhibrx Biosciences will post -10.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Inhibrx Biosciences

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in Inhibrx Biosciences in the 2nd quarter valued at approximately $78,261,000. Morgan Stanley increased its holdings in shares of Inhibrx Biosciences by 163.7% in 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 in the last quarter. Capital Research Global Investors purchased a new position in shares of Inhibrx Biosciences in the fourth quarter worth $33,304,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Inhibrx Biosciences in the fourth quarter worth $20,856,000. Finally, Caligan Partners LP bought a new position in shares of Inhibrx Biosciences during the third quarter valued at $7,961,000. Institutional investors own 82.46% of the company’s stock.

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.