Intel stock spikes after report of possible US government stake
Investing.com - Oppenheimer initiated coverage on MBX Biosciences Inc (NASDAQ:MBX) with an Outperform rating and a price target of $38.00 on Wednesday. The target represents significant upside potential, with analyst targets ranging from $30 to $44, according to InvestingPro data.
The investment firm cited the company’s innovative Precision Endocrine Peptide (PEP) platform as a key factor in its positive outlook, noting its potential to transform treatment standards for endocrine and metabolic diseases.
Oppenheimer highlighted the upcoming Phase 2 results for lead candidate canvuparatide in hypoparathyroidism as a significant catalyst. The firm believes the drug’s once-weekly injection schedule could offer advantages over current daily injectable treatments.
The research note projected approximately $2 billion in global peak sales opportunity for canvuparatide. Earlier-stage programs targeting post-bariatric hypoglycemia and obesity represent additional growth potential.
Oppenheimer also pointed to MBX’s strong cash position and what it considers an attractive valuation, creating what the firm described as an "asymmetric risk/reward profile" ahead of upcoming data releases.
In other recent news, MBX Biosciences has maintained its Market Outperform rating from JMP Securities, with a price target of $38.00. The company is set to report Phase 2b data for its canvuparatide treatment for hypoparathyroidism, which could show promising results. This development follows the successful U.S. launch of Yorvipath, which has a total addressable market exceeding $15 billion. Stifel has also reiterated its buy rating and a $40.00 price target for MBX, highlighting the potential benefits of canvuparatide’s weekly administration. In addition, MBX has submitted an Investigational New Drug application to the FDA for MBX 4291, a once-monthly obesity treatment. The company plans to begin a Phase 1 trial for MBX 4291 in 2025, pending FDA approval. MBX Biosciences also announced changes to its board of directors, with Carl L. Gordon departing and Tiba Aynechi and P. Kent Hawryluk elected to serve three-year terms. Lastly, the stockholders ratified Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025.
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