Jefferies Reiterates Buy Rating on MBX Biosciences Inc (MBX)

Jefferies analyst Roger Song reiterated a Buy rating and $66.00 price target on MBX Biosciences Inc (NASDAQ: MBX).

The analyst comments "Bottom line. MBX is entering a pivotal stage with lead canvu strong Ph2 data clearing path forward as the first QW PTH for HP (hypoparathyroidism), two earlier stage programs to bring upside potential and a validated Precision Endocrine Peptide (PEP) platform together targeting multi-$B endocrine/ metabolic markets. Canvuparatide Ph2 strong data/ 79% response at 6 mon/ 94% transition to OLE set the stage for Ph3 initiation in mid'26 upon FDA/ EMA alignment in Q1/Q2. Proprietary market research with 27 physicians indicated strong switching inclination from pts on daily PTH. Co has rich catalyst ahead on canvu, with full 26-week data in 2Q26 at upcoming medical conference, on detailed efficacy/ safety and new population PK data. Data from 1-year OLE study will follow in same Q, which will include classic biomarkers, bone mineral density, urine calcium, pt retention, PRN use, and long-term safety/ tolerability. Ph3 initiation is expected after regulatory alignment with FDA/EMA in 1/2Q26. Two earlier pipelines are also tracking strong, with imapextide Ph2a PBH data in 2Q26/ MBX 4291 12W POC in obese pts in 4Q26; both could potentially generate major upside potential. We think MBX is positioned for major inflection point with weekly PTH heading to pivotal with high POS for success based on similar Ph2 design and early indication of market excitement; two early programs approaching meaningful stage; robust balance sheet/ $392M in cash to fund into 2029, reinforcing its ability to seamlessly advance into Ph3 / prep for potential launch."

For an analyst ratings summary and ratings history on MBX Biosciences Inc click here. For more ratings news on MBX Biosciences Inc click here.

Shares of MBX Biosciences Inc closed at $27.39 yesterday.

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