Truist Securities raised its price target for MBX Biosciences, Inc. to $88 from $70. The investment firm reiterated its Buy rating on the stock. This new target aligns with the current average analyst price target of $88.40.
The upgrade follows encouraging clinical progress for the company's lead drug candidates. MBX Biosciences recently reported positive Phase 2 results for canvuparatide in treating chronic hypoparathyroidism. Furthermore, initial data for MBX4291 supports a potential once-monthly dosing schedule for obesity treatment.