Stock of the Day

September 15, 2023

Inhibrx Biosciences (INBX)

$126.70
+$3.29 (+2.7%)
Market Cap: $1.82B

About Inhibrx Biosciences

Inhibrx, Inc., a clinical-stage biopharmaceutical company, develops a pipeline of novel biologic therapeutic candidates. The company's therapeutic candidate includes INBRX-101, an alpha-1 antitrypsin (AAT)-Fc fusion protein therapeutic candidate, which is in Phase 1 clinical trials for use in the treatment of patients with AAT deficiency. It also develops INBRX-109, a tetravalent therapeutic candidate targeting death receptor 5, which is in Phase 2 clinical trials to treat cancers, such as chondrosarcoma, mesothelioma, colorectal cancer, ewing sarcoma, and pancreatic adenocarcinoma; and INBRX-106, a hexavalent agonist of OX40 for a range of oncology indications. The company has license and collaboration agreements with 2seventy bio, Inc. and Bristol-Myers Squibb Company. Inhibrx, Inc. was incorporated in 2009 and is headquartered in La Jolla, California.

Today's Trend

Inhibrx Biosciences, Inc. (NASDAQ: INBX) received new analyst coverage from HC Wainwright, which initiated a Buy rating and set a $245 price target. With the stock recently trading near $124, the target implies substantial potential upside and may provide support for the shares. HC Wainwright Begins Coverage on Inhibrx Biosciences

  • HC Wainwright’s bullish rating and price target indicate confidence in Inhibrx’s longer-term prospects, representing the primary positive catalyst in the reports.
  • The analyst projects continued quarterly losses but expects losses to narrow from approximately $8.93 per share in fiscal 2026 to $8.47 per share in fiscal 2027. Estimates include losses of $2.14 per share in Q3 2026 and $2.30 per share in Q4 2026, followed by quarterly losses ranging from $2.02 to $2.22 in 2027.
  • Inhibrx remains unprofitable, and the projected losses could limit near-term enthusiasm despite the favorable analyst rating. The company also recently reported an earnings-per-share miss, underscoring ongoing execution and development risks.

Overall, the coverage is directionally favorable for INBX because of the Buy rating and large implied upside, although investors continue to face significant risks from persistent losses and the absence of near-term profitability.

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