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

Inhibrx Biosciences, Inc. (NASDAQ:INBX) has received a consensus rating of “Hold” from the five brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $150.00.

Several research analysts have issued reports on INBX shares. Zacks Research upgraded Inhibrx Biosciences to a “hold” rating in a research report on Thursday, April 9th. Stifel Nicolaus started coverage on Inhibrx Biosciences in a research report on Wednesday, April 8th. They issued a “buy” rating and a $150.00 price objective for the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Inhibrx Biosciences in a research report on Thursday, January 22nd. Finally, Wall Street Zen cut Inhibrx Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in INBX. Morgan Stanley increased its position in shares of Inhibrx Biosciences by 163.7% in the fourth quarter. Morgan Stanley now owns 1,167,728 shares of the company’s stock valued at $92,251,000 after buying 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 valued at $33,304,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Inhibrx Biosciences in the fourth quarter valued at $20,856,000. Caligan Partners LP purchased a new position in shares of Inhibrx Biosciences in the third quarter valued at $7,961,000. Finally, State Street Corp increased its position in shares of Inhibrx Biosciences by 83.9% in the fourth quarter. State Street Corp now owns 374,961 shares of the company’s stock valued at $29,622,000 after buying an additional 171,038 shares in the last quarter. Hedge funds and other institutional investors own 82.46% of the company’s stock.

Inhibrx Biosciences Trading Up 2.9%

NASDAQ:INBX opened at $77.46 on Friday. The stock has a fifty day moving average price of $72.85 and a two-hundred day moving average price of $70.34. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -8.57 and a beta of 1.82. 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 has a 1 year low of $10.84 and a 1 year high of $94.57.

Inhibrx Biosciences (NASDAQ:INBX) last released its quarterly earnings data on Thursday, March 19th. The company reported ($2.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.08) by ($0.03). As a group, sell-side analysts anticipate that Inhibrx Biosciences will post 104.88 earnings per share for the current fiscal 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.