MBX Biosciences price target raised to $80 from $38 at Oppenheimer

Oppenheimer raised the firm’s price target on MBX Biosciences (MBX) to $80 from $38 and keeps an Outperform rating on the shares after the company announced once-weekly canvuparatide data in adult patients with chronic hypoparathyroidism that demonstrated a comparable efficacy profile to Ascendis Pharma’s (ASND) daily injectable Yorvipath while using a more stringent calcium utilization bar for response. The firm, which had expected this data release to be a “buy-the-news event,” believes there remains an attractive buying opportunity despite today’s move up in share price, the analyst tells investors.