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

Stifel Nicolaus initiated coverage on shares of Inhibrx Biosciences (NASDAQ:INBX) in a research note released on Wednesday, MarketBeat Ratings reports. The firm issued a buy rating and a $150.00 price target on the stock.

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Inhibrx Biosciences in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $150.00.

Inhibrx Biosciences Stock Performance

Shares of Inhibrx Biosciences stock opened at $67.13 on Wednesday. The stock has a market cap of $980.77 million, a price-to-earnings ratio of -7.43 and a beta of 1.82. The firm’s 50-day moving average is $72.90 and its 200 day moving average is $69.08. Inhibrx Biosciences has a 1 year low of $10.81 and a 1 year high of $94.57. The company has a debt-to-equity ratio of 12.58, a current ratio of 3.93 and a quick ratio of 3.93.

Inhibrx Biosciences (NASDAQ:INBX) last announced its quarterly earnings results on Thursday, March 19th. The company reported ($2.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.08) by ($0.03). Sell-side analysts anticipate that Inhibrx Biosciences will post 104.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Inhibrx Biosciences

A number of hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. raised its position in Inhibrx Biosciences by 26.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 707 shares of the company’s stock worth $56,000 after buying an additional 147 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in Inhibrx Biosciences by 1.3% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 22,883 shares of the company’s stock worth $1,808,000 after buying an additional 299 shares during the last quarter. Persistent Asset Partners Ltd purchased a new position in Inhibrx Biosciences in the 4th quarter worth about $27,000. BNP Paribas Financial Markets raised its position in Inhibrx Biosciences by 71.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,886 shares of the company’s stock worth $64,000 after buying an additional 789 shares during the last quarter. Finally, Daiwa Securities Group Inc. purchased a new position in Inhibrx Biosciences in the 4th quarter worth about $66,000. Hedge funds and other 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.