Inhibrx (NASDAQ:INBX) PT Lowered to $48.00 at Credit Suisse Group

Inhibrx (NASDAQ:INBX – Get Rating) had its price target lowered by equities research analysts at Credit Suisse Group from $53.00 to $48.00 in a note issued to investors on Tuesday, The Fly reports. Credit Suisse Group's target price indicates a potential upside of 94.10% from the company's current price.

Separately, JMP Securities reissued a "buy" rating and issued a $40.00 target price on shares of Inhibrx in a report on Wednesday, July 6th.

Inhibrx Stock Up 8.3 %

INBX opened at $24.73 on Tuesday. The stock has a market cap of $965.46 million, a price-to-earnings ratio of -10.14 and a beta of 3.24. The company has a quick ratio of 7.48, a current ratio of 7.48 and a debt-to-equity ratio of 4.16. The company's 50-day moving average price is $14.55 and its two-hundred day moving average price is $18.28. Inhibrx has a twelve month low of $7.67 and a twelve month high of $47.90.

Inhibrx (NASDAQ:INBX – Get Rating) last posted its earnings results on Monday, May 9th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.18). The company had revenue of $0.93 million during the quarter, compared to analysts' expectations of $1.00 million. Inhibrx had a negative return on equity of 246.26% and a negative net margin of 1,289.14%. As a group, equities analysts expect that Inhibrx will post -3.18 earnings per share for the current year.

Insider Transactions at Inhibrx

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In other news, insider Brendan P. Eckelman sold 24,500 shares of the business's stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $17.70, for a total transaction of $433,650.00. Following the completion of the transaction, the insider now directly owns 2,491,053 shares of the company's stock, valued at $44,091,638.10. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Brendan P. Eckelman sold 40,000 shares of the stock in a transaction dated Thursday, July 7th. The stock was sold at an average price of $17.17, for a total value of $686,800.00. Following the completion of the sale, the insider now owns 2,515,553 shares in the company, valued at $43,192,045.01. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Brendan P. Eckelman sold 24,500 shares of Inhibrx stock in a transaction that occurred on Tuesday, August 2 nd. The stock was sold at an average price of $17.70, for a total value of $433,650.00. Following the completion of the transaction, the insider now owns 2,491,053 shares of the company's stock, valued at approximately $44,091,638.10. The disclosure for this sale can be found here. Insiders own 25.80% of the company's stock.

Hedge Funds Weigh In On Inhibrx

A number of hedge funds have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System acquired a new position in shares of Inhibrx during the 2nd quarter worth about $121,000. M&T Bank Corp increased its holdings in Inhibrx by 182.5% during the 2nd quarter. M&T Bank Corp now owns 33,172 shares of the company's stock worth $376,000 after purchasing an additional 21,429 shares in the last quarter. Candriam S.C.A. increased its holdings in Inhibrx by 31.6% during the 2nd quarter. Candriam S.C.A. now owns 352,069 shares of the company's stock worth $3,996,000 after purchasing an additional 84,632 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Inhibrx by 54.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 254,112 shares of the company's stock valued at $2,883,000 after acquiring an additional 89,337 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Inhibrx by 25.8% in the 1st quarter. Bank of America Corp DE now owns 58,368 shares of the company's stock valued at $1,300,000 after acquiring an additional 11,977 shares in the last quarter. 59.59% of the stock is currently owned by institutional investors and hedge funds.

Inhibrx Company Profile

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Inhibrx, Inc, a clinical-stage biotechnology company, focuses on developing a pipeline of novel biologic therapeutic candidates. The company's therapeutic candidates include INBRX-109, a tetravalent agonist of death receptor 5, which is in Phase 2 clinical trials to treat cancers, such as chondrosarcoma, mesothelioma, and pancreatic adenocarcinoma; INBRX-105, a tetravalent conditional agonist of programmed death-ligand 1 and a conditional agonist of 4-1BB that is in Phase 1 clinical trials to treat patients with locally advanced or metastatic solid tumors; and 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.

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