Lifesci Capital Upgrades Inhibrx Biosciences (NASDAQ:INBX) to Strong-Buy

Inhibrx Biosciences (NASDAQ:INBX) was upgraded by stock analysts at Lifesci Capital to a “strong-buy” rating in a report issued on Friday,Zacks.com reports.

Several other research analysts also recently commented on INBX. Stifel Nicolaus began coverage on Inhibrx Biosciences in a report on Wednesday, April 8th. They issued a “buy” rating and a $150.00 price objective on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Inhibrx Biosciences in a report on Thursday, January 22nd. Zacks Research raised Inhibrx Biosciences to a “hold” rating in a research report on Thursday, April 9th. Finally, Wall Street Zen cut Inhibrx Biosciences from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $150.00.

Inhibrx Biosciences Stock Up 7.6%

INBX opened at $129.06 on Friday. The company has a market cap of $1.89 billion, a P/E ratio of -14.28 and a beta of 1.82. The business’s 50-day moving average price is $75.37 and its 200-day moving average price is $74.03. The company has a current ratio of 3.93, a quick ratio of 3.93 and a debt-to-equity ratio of 12.58. Inhibrx Biosciences has a 12 month low of $10.84 and a 12 month high of $155.29.

Inhibrx Biosciences (NASDAQ:INBX) last released its quarterly earnings data on Thursday, March 19th. The company reported ($2.11) EPS for the quarter, missing the consensus estimate of ($2.08) by ($0.03). On average, equities analysts expect that Inhibrx Biosciences will post -11.15 EPS for the current year.

Institutional Investors Weigh In On Inhibrx Biosciences

Several institutional investors and hedge funds have recently bought and sold shares of INBX. Morgan Stanley lifted its holdings in 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 buying an additional 724,872 shares during the period. Capital Research Global Investors purchased a new stake in Inhibrx Biosciences in the 4th quarter worth approximately $33,304,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Inhibrx Biosciences in the 4th quarter worth approximately $20,856,000. Caligan Partners LP purchased a new stake in Inhibrx Biosciences in the 3rd quarter worth approximately $7,961,000. Finally, State Street Corp lifted its holdings in Inhibrx Biosciences by 83.9% in the 4th quarter. State Street Corp now owns 374,961 shares of the company’s stock worth $29,622,000 after buying an additional 171,038 shares during the period. Hedge funds and other institutional investors own 82.46% of the company’s stock.

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.