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MBX Biosciences initiated with an Outperform at Citizens JMP

Citizens JMP initiated coverage of MBX Biosciences (MBX) with an Outperform rating and $38 price target MBX is using its proprietary Precision Endocrine Peptide platform to discover and develop optimized peptide therapeutics, the analyst tells investors in a research note. The firm sees a high unmet need in hypoparathyroidism and says the Phase 2 data in Q3 is a key catalyst for the shares. It expects “derisking data” from MBX’s two other candidates in 2026.

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