Brokerages Set Inhibrx Biosciences, Inc. (NASDAQ:INBX) Price Target at $150.00

Inhibrx Biosciences, Inc. (NASDAQ:INBX) has earned a consensus recommendation of “Hold” from the six ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, one has assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $150.00.

INBX has been the topic of several research reports. Stifel Nicolaus initiated coverage on Inhibrx Biosciences in a research report on Wednesday, April 8th. They issued a “buy” rating and a $150.00 target price on the stock. Zacks Research upgraded Inhibrx Biosciences to a “hold” rating in a research report on Thursday, April 9th. Lifesci Capital raised Inhibrx Biosciences to a “strong-buy” rating in a research note on Friday, April 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Inhibrx Biosciences in a report on Tuesday, June 16th. Finally, Wall Street Zen upgraded Inhibrx Biosciences from a “sell” rating to a “hold” rating in a report on Sunday, July 12th.

Inhibrx Biosciences Stock Down 1.9%

INBX opened at $85.92 on Monday. The company has a market cap of $1.26 billion, a PE ratio of -10.24 and a beta of 3.41. Inhibrx Biosciences has a twelve month low of $20.55 and a twelve month high of $155.29. The company has a 50-day moving average price of $96.44 and a 200 day moving average price of $87.17. The company has a quick ratio of 6.46, a current ratio of 6.46 and a debt-to-equity ratio of 12.58.

Inhibrx Biosciences (NASDAQ:INBX) last posted its quarterly earnings data 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). Sell-side analysts expect that Inhibrx Biosciences will post -10.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Inhibrx Biosciences

Several hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in Inhibrx Biosciences during the 4th quarter worth approximately $1,271,000. PSP Research LLC acquired a new position in shares of Inhibrx Biosciences in the fourth quarter worth $505,000. Jefferies Financial Group Inc. purchased a new stake in shares of Inhibrx Biosciences during the fourth quarter worth $703,000. UBS Group AG increased its position in shares of Inhibrx Biosciences by 681.9% during the fourth quarter. UBS Group AG now owns 73,699 shares of the company’s stock worth $5,822,000 after acquiring an additional 64,273 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Inhibrx Biosciences in the fourth quarter valued at $20,856,000. Institutional investors and hedge funds 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.