MBX Biosciences initiated with an Overweight at JPMorgan

JPMorgan initiated coverage of MBX Biosciences with an Overweight rating and $30 price target MBX is developing peptide-based therapies against clinically de-risked targets in the endocrine/metabolic space leveraging its proprietary Precision platform to achieve potentially optimized profiles, the analyst tells investors in a research note. The firm sees the company’s lead asset MBX 2109 as a “promising first shot on goal” for chronic hypoparathyroidism with a Phase II trial ongoing and top-line data expected in Q3 of 2025. JPMorgan sees an attractive entry point ahead of several key-derising and value-enhancing catalysts expected across MBX’s pipeline over the next 12 months.