Inhibrx (NASDAQ:INBX) Receives “Buy” Rating from JMP Securities

JMP Securities restated their buy rating on shares of Inhibrx (NASDAQ:INBX) in a report published on Wednesday morning, TipRanks reports. They currently have a $46.00 target price on the stock.

Separately, Zacks Investment Research upgraded Inhibrx from a sell rating to a hold rating in a research note on Tuesday.

NASDAQ:INBX opened at $37.98 on Wednesday. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -16.51 and a beta of 2.26. Inhibrx has a twelve month low of $14.27 and a twelve month high of $50.97. The stock’s 50 day moving average price is $31.56 and its two-hundred day moving average price is $25.81. The company has a quick ratio of 6.06, a current ratio of 6.06 and a debt-to-equity ratio of 1.71.

Inhibrx (NASDAQ:INBX) last issued its earnings results on Monday, August 9th. The company reported ($0.55) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.56) by $0.01. Inhibrx had a negative return on equity of 114.87% and a negative net margin of 742.82%. The company had revenue of $0.95 million during the quarter, compared to the consensus estimate of $0.90 million. As a group, analysts anticipate that Inhibrx will post -2.31 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INBX. Citigroup Inc. boosted its stake in Inhibrx by 135.9% in the 2nd quarter. Citigroup Inc. now owns 1,503 shares of the company’s stock valued at $41,000 after purchasing an additional 866 shares during the period. Ameritas Investment Partners Inc. raised its holdings in Inhibrx by 221.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,189 shares of the company’s stock valued at $60,000 after acquiring an additional 1,508 shares in the last quarter. Royal Bank of Canada raised its holdings in Inhibrx by 103.5% in the 2nd quarter. Royal Bank of Canada now owns 2,316 shares of the company’s stock valued at $65,000 after acquiring an additional 1,178 shares in the last quarter. Legal & General Group Plc raised its holdings in Inhibrx by 136.5% in the 2nd quarter. Legal & General Group Plc now owns 3,628 shares of the company’s stock valued at $100,000 after acquiring an additional 2,094 shares in the last quarter. Finally, New York State Common Retirement Fund raised its holdings in Inhibrx by 55.3% in the 1st quarter. New York State Common Retirement Fund now owns 7,300 shares of the company’s stock valued at $147,000 after acquiring an additional 2,600 shares in the last quarter. Institutional investors and hedge funds own 51.67% of the company’s stock.

Inhibrx Company Profile

Inhibrx, Inc, a clinical-stage biotechnology company, focuses on developing a pipeline of novel biologic therapeutic candidates. Its therapeutic candidates include INBRX-109, a tetravalent agonist of death receptor 5, which is in Phase 1 clinical trials in patients with solid tumors, including sarcoma; and INBRX-105, an tetravalent conditional agonist of programmed death ligand 1 (PD-L1) and a conditional agonist of 4-1BB that is in Phase 1 clinical trials to treat patients with PD-L1 expressing tumors.

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