MBX Biosciences, Inc.: Strong Buy Rating Amid Promising Phase II Data and Robust Financial Position

Jefferies analyst Michael Yee maintained a Buy rating on MBX Biosciences, Inc. (MBX – Research Report) yesterday and set a price target of $35.00.

Michael Yee has given his Buy rating due to a combination of factors that highlight MBX Biosciences, Inc.’s potential for significant upside. The company is on track to release key Phase II data for its PTH treatment in the third quarter, which is anticipated to demonstrate strong market potential and address unmet medical needs. MBX’s treatment offers the advantage of weekly dosing compared to daily options like Yorvipath, positioning it as a differentiated choice in the market.
Furthermore, MBX’s financial position is strong, with $241 million in cash at the end of the first quarter, providing a runway into mid-2027. The upcoming Phase II results will guide the selection of a starting dose for a longer Phase III study, which is expected to be similar in duration to those of competitors. Additionally, MBX’s pipeline includes promising programs like a long-acting obesity treatment, which could provide further upside potential if successful.

In another report released yesterday, Citizens JMP also reiterated a Buy rating on the stock with a $38.00 price target.

Based on the recent corporate insider activity of 37 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MBX in relation to earlier this year.