MBX Biosciences initiated with a Buy at Guggenheim

Guggenheim analyst Seamus Fernandez initiated coverage of MBX Biosciences with a Buy rating and $44 price target The firm cites the “promise offered” by the company’s longer-acting peptides against clinically de-risked targets in not-so-rare endocrine as well as broader metabolic diseases for the Buy rating. Critical to the thesis is MBX 2109, a first-in-class once-weekly peptide targeting what Guggenheim estimates to be a $7B-plus post-bariatric hypoglycemia market opportunity.