Mizuho initiated coverage of MBX Biosciences (MBX) with an Outperform rating and $38 price target The firm views the company’s lead asset canvuparatide as underappreciated. The drug has potential to hit $3B in global peak sales given its differentiating weekly dosing in the emerging parathyroid hormone replacement market for hypoparathyroidism, the analyst tells investors in a research note. Mizuho believes MBX’s Phase 2 readout in Q3 has a high likelihood of success.
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