MBX Biosciences initiated with an Outperform at Oppenheimer

Oppenheimer initiated coverage of MBX Biosciences (MBX) with an Outperform rating and $38 price target The analyst is positive on potential of the company’s Precision Endocrine Peptide platform to redefine standards in endocrine and metabolic disease treatment. This quarter’s Phase 2 readout in hypoparathyroidism is a key catalyst, the analyst tells investors in a research note. The firm believes MBX’s lead candidate canvuparatide’s once-weekly injections could become best-in-class, supporting a $2B global peak sales opportunity.