Inhibrx, Inc. (NASDAQ:INBX – Get Rating) – Equity analysts at Jefferies Financial Group have raised their earnings estimates for fiscal 2022 for Inhibrx in a report published on Monday, November 7th. Jefferies Financial Group analyst M. Yee now expects the company to report earnings per share for the year of ($3.47), up from its previous forecast of ($3.82). The consensus estimate for Inhibrx’s current full year earnings is ($3.38) per share. Jefferies Financial Group also released estimates for Inhibrx earnings for Q4 2022 at ($0.80) EPS, for Q1 2023 at ($0.84) EPS, for Q2 2023 at ($0.88 ) EPS, Q3 2023 at ($0.83) EPS, Q4 2023 at ($0.87). ) EPS and FY2023 at ($3.42) per share.
INBX has been the subject of several other research reports. JMP Securities reiterated a “buy” rating and price target of $40.00 on shares of Inhibrx in a research note on Wednesday, October 5th. Evercore ISI raised its target price on Inhibrx shares from $54.00 to $60.00 and gave the stock a “Outperform” rating in a research report on Wednesday, October 5. Finally, Credit Suisse Group lowered its target price on Inhibrx shares to $46.00 from $48.00 and gave the company a “outperform” rating in a research note on Tuesday.
Inhibrx trading down 2.2%
INBX opened at $28.99 on Thursday. The company has a current ratio of 7.50, a quick ratio of 7.50 and a debt-to-equity ratio of 4.16. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -9.00 and a beta of 3.25. Inhibrx has a 12-month low of $7.67 and a 12-month high of $45.99. The stock has a 50-day moving average price of $23.79 and a 200-day moving average price of $18.63.
Inhibrx (NASDAQ:INBX – Get Rating) last reported its earnings results on Monday, August 8th. The company reported earnings per share (EPS) of ($0.97) for the quarter, missing the consensus estimate of ($0.84) by ($0.13). The company had revenue of $0.71 million for the quarter compared to the consensus estimate of $0.90 million. Inhibrx had a negative net margin of 2,628.82% and a negative return on equity of 503.27%.
Insider activity at Inhibrx
In other news from Inhibrx, insider Brendan P. Eckelman sold 40,000 shares of the stock in a transaction on Tuesday, October 4th. The stock sold at an average price of $27.82 for a total value of $1,112,800.00. Upon completion of the sale, the insider now directly owns 2,235,553 shares of the company’s stock valued at $62,193,084.46. The transaction was disclosed in a document filed with the SEC, available at this link. In related news, major shareholder Global Investors Lp Viking bought 1,333,333 shares of the company’s shares in a transaction on Friday, October 7th. The shares were purchased at an average price of $30.00 per share for a total value of $39,999,990.00. Following the transaction, the insider now owns 2,427,307 shares of the company’s stock valued at $72,819,210. The acquisition was announced in a legal filing with the Securities & Exchange Commission available at this hyperlink. Also, insider Brendan P. Eckelman sold 40,000 shares of the company’s stock in a transaction that took place on Tuesday, October 4th. The shares were sold at an average price of $27.82 for a total transaction of $1,112,800.00. Following the transaction, the insider now owns 2,235,553 shares of the company’s stock valued at approximately $62,193,084.46. The disclosure for this sale can be found here. Insiders have sold 115,500 shares of the company’s stock valued at $3,508,775 over the past ninety days. Company insiders own 25.80% of the company’s shares.
Institutional investors rely on Inhibrx
A number of large investors have recently changed their positions in INBX. Nisa Investment Advisors LLC increased its stake in Inhibrx by 633.1% during the third quarter. Nisa Investment Advisors LLC now owns 2,346 shares of the company’s stock valued at $47,000 after purchasing an additional 2,026 shares last quarter. Point72 Hong Kong Ltd increased its stake in Inhibrx shares by 154.6% in the second quarter. Point72 Hong Kong Ltd now owns 2,879 shares of the company, valued at $33,000, after purchasing an additional 1,748 shares last quarter. Quantbot Technologies LP increased its stake in Inhibrx shares by 158.3% during the first quarter. Quantbot Technologies LP now owns 3,100 shares of the company’s stock valued at $69,000 after purchasing an additional 1,900 shares last quarter. Zürcher Kantonalbank Zürcher Kantonalbank increased its holding in Inhibrx shares by 418.0% in the third quarter. Zurich Cantonal Bank Zurich Cantonal Bank now owns 3,704 shares of the company, valued at $66,000, after purchasing an additional 2,989 shares during the period. Finally, during the third quarter, SG Americas Securities LLC acquired a new interest in Inhibrx for approximately $111,000. 67.27% of the shares are owned by hedge funds and other institutional investors.
Inhibrx company profile
(received rating)
Inhibrx, Inc, a clinical-stage biotechnology company, is focused on developing a pipeline of novel biological therapeutic candidates. The Company’s therapeutic candidates include INBRX-109, a tetravalent death receptor 5 agonist in Phase 2 clinical trials for the treatment of cancers such as chondrosarcoma, mesothelioma and pancreatic adenocarcinoma; INBRX-105, a tetravalent programmed death ligand 1 conditional agonist and a 4-1BB conditional agonist in Phase 1 clinical trials for the treatment of patients with locally advanced or metastatic solid tumors; and INBRX-101, an alpha-1-antitrypsin (AAT)-Fc fusion protein therapeutic candidate that is in Phase 1 clinical trials for use in treating patients with AAT deficiency.
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