Inhibrx Biosciences, Inc. (NASDAQ:INBX) Receives Consensus Recommendation of “Hold” from Brokerages

Inhibrx Biosciences, Inc. (NASDAQ:INBX) has earned a consensus recommendation of “Hold” from the six analysts that are covering the stock, Marketbeat Ratings reports. One equities 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 price target among brokerages that have updated their coverage on the stock in the last year is $150.00.

INBX has been the topic of several recent analyst reports. Zacks Research raised shares of Inhibrx Biosciences to a “hold” rating in a research report on Thursday, April 9th. Wall Street Zen raised Inhibrx Biosciences from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. Lifesci Capital raised Inhibrx Biosciences to a “strong-buy” rating in a research report on Friday, April 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Inhibrx Biosciences in a report on Tuesday, June 16th. Finally, Stifel Nicolaus assumed coverage on Inhibrx Biosciences in a research report on Wednesday, April 8th. They issued a “buy” rating and a $150.00 price objective on the stock.

Hedge Funds Weigh In On Inhibrx Biosciences

Institutional investors have recently added to or reduced their stakes in the stock. Seven Fleet Capital Management LP purchased a new stake in Inhibrx Biosciences during the first quarter worth about $167,000. Janus Henderson Group PLC purchased a new position in Inhibrx Biosciences in the first quarter valued at about $229,000. The Manufacturers Life Insurance Company grew its position in shares of Inhibrx Biosciences by 51.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 4,228 shares of the company’s stock valued at $284,000 after acquiring an additional 1,443 shares during the period. Quantinno Capital Management LP increased its stake in shares of Inhibrx Biosciences by 76.4% during the 1st quarter. Quantinno Capital Management LP now owns 17,704 shares of the company’s stock worth $1,190,000 after purchasing an additional 7,666 shares during the last quarter. Finally, SummitTX Capital L.P. increased its stake in shares of Inhibrx Biosciences by 66.3% during the 1st quarter. SummitTX Capital L.P. now owns 137,821 shares of the company’s stock worth $9,266,000 after purchasing an additional 54,936 shares during the last quarter. Institutional investors own 82.46% of the company’s stock.

Inhibrx Biosciences Stock Performance

NASDAQ INBX opened at $95.10 on Thursday. The company has a fifty day moving average price of $104.34 and a 200-day moving average price of $85.60. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -11.33 and a beta of 3.31. The company has a debt-to-equity ratio of 12.58, a current ratio of 6.46 and a quick ratio of 6.46. Inhibrx Biosciences has a 1 year low of $13.97 and a 1 year high of $155.29.

Inhibrx Biosciences (NASDAQ:INBX) last released its quarterly earnings results on Thursday, May 14th. The company reported ($2.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.47). As a group, equities research analysts predict that Inhibrx Biosciences will post -10.15 EPS for the current fiscal year.

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.