MBX Biosciences Secures Buy Ratings from Three Investment Firms

Three prominent investment firms commenced research coverage of MBX Biosciences stock on Tuesday, each assigning a Buy rating to the biotechnology company.

Analysts at Jefferies emphasized the potential of MBX’s leading program, MBX-2109, which is currently undergoing Phase II trials for hypoparathyroidism. They expressed optimism about the company’s scientific platform, particularly in the area of endocrine peptides, citing the potential for significant improvements in treatment duration and the creation of enhanced therapies in well-established commercial sectors.

The foundation of MBX Biosciences’s platform is built upon the extensive peptide and chemistry research conducted by co-founder Dr. Richard DiMarchi, who has over 20 years of academic experience and a proven history of developing approved therapies. The firm underscored the robustness of this scientific base, which has been bolstered by years of research and development at leading pharmaceutical companies.

“The leading Phase II program in PTH has shown encouraging Phase I data with favorable pharmacokinetics,” Jefferies analysts stated. “In doses ranging from 200 to 900 micrograms, MBX-2109 demonstrated a dose-proportional increase in mean concentration and a half-life of 7 to 9 days, supporting the feasibility of weekly dosing compared to competitors that require daily administration.”

Looking ahead, Jefferies anticipates that MBX stock may gain from upcoming industry catalysts, including a significant commercial launch expected from a competitor in the first quarter of 2025, which could broaden the market for hypoparathyroidism treatments. Additionally, Phase III data from a prominent competitor anticipated in the first half of 2025 could further validate MBX’s platform and enhance confidence in its improved weekly dosing regimen.

Separately, Stifel and Guggenheim also initiated coverage of MBX, both assigning a Buy rating and projecting optimistic price targets of $40 and $44, respectively. Stifel’s support is rooted in the strength of MBX’s precision endocrine peptides platform, designed to enhance pharmaceutical properties, including minimizing injection frequency. The firm expects multiple catalysts in the next 12 months that could showcase the platform’s capabilities.

Guggenheim’s analysis highlights MBX-2109 as a once-weekly peptide offering access to a market estimated at over $7 billion. They predict that positive Phase II results anticipated by the third quarter of 2025 could significantly boost the company’s stock value. Furthermore, Guggenheim has pointed to MBX-1416, a once-weekly GLP-1 antagonist, as a promising treatment with expected Phase I results by the fourth quarter of 2024. The company is also in the early stages of developing monthly incretin coagonists aimed at obesity, as noted by analysts.