Mizuho raised the firm’s price target on MBX Biosciences (MBX) to $56 from $38 and keeps an Outperform rating on the shares. The firm believes the Phase 2 trial of canvuparatide in hypoparathyroidism delivered on “lofty investor expectations with competitive data.” Physicians Mizuho consulted see the potential for 30%-40% canvuparatide adoption even if the data is not as strong as daily Yorvipath’s given canvuparatide’s “differentiating” once-weekly injection, which cuts daily injection by 85% annually, the analyst tells investors in a research note.
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