Inhibrx Biosciences (NASDAQ:INBX) Now Covered by Stifel Nicolaus

Stifel Nicolaus assumed coverage on shares of Inhibrx Biosciences (NASDAQ:INBX) in a research note issued to investors on Wednesday,Benzinga reports. The firm set a “buy” rating and a $150.00 price target on the stock. Stifel Nicolaus’ target price points to a potential upside of 140.58% from the stock’s previous close.

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Inhibrx Biosciences in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Inhibrx Biosciences currently has a consensus rating of “Hold” and an average target price of $150.00.

Inhibrx Biosciences Stock Performance

NASDAQ:INBX opened at $62.35 on Wednesday. The company has a current ratio of 3.93, a quick ratio of 3.93 and a debt-to-equity ratio of 12.58. The firm has a 50-day moving average price of $73.04 and a two-hundred day moving average price of $69.09. Inhibrx Biosciences has a twelve month low of $10.81 and a twelve month high of $94.57. The company has a market capitalization of $910.75 million, a P/E ratio of -6.90 and a beta of 1.82.

Inhibrx Biosciences (NASDAQ:INBX) last posted its earnings results on Thursday, March 19th. The company reported ($2.11) earnings per share for the quarter, missing the consensus estimate of ($2.08) by ($0.03). As a group, research analysts expect that Inhibrx Biosciences will post 104.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Inhibrx Biosciences

Hedge funds have recently added to or reduced their stakes in the business. Perceptive Advisors LLC grew its holdings in shares of Inhibrx Biosciences by 9.4% during the fourth quarter. Perceptive Advisors LLC now owns 1,452,707 shares of the company’s stock worth $114,764,000 after buying an additional 125,000 shares in the last quarter. Morgan Stanley grew its holdings in shares of Inhibrx Biosciences by 163.7% during the fourth quarter. Morgan Stanley now owns 1,167,728 shares of the company’s stock worth $92,251,000 after buying an additional 724,872 shares in the last quarter. Sofinnova Investments Inc. grew its holdings in shares of Inhibrx Biosciences by 1.5% during the second quarter. Sofinnova Investments Inc. now owns 708,678 shares of the company’s stock worth $10,113,000 after buying an additional 10,762 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Inhibrx Biosciences by 4.7% during the fourth quarter. Vanguard Group Inc. now owns 623,084 shares of the company’s stock worth $49,224,000 after buying an additional 28,166 shares in the last quarter. Finally, Capital Research Global Investors purchased a new stake in shares of Inhibrx Biosciences during the fourth quarter worth about $33,304,000. 82.46% of the stock is currently owned by hedge funds and other institutional investors.

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.