MBX Biosciences price target raised to $84 from $44 at Guggenheim

Guggenheim raised the firm’s price target on MBX Biosciences (MBX) to $84 from $44 and keeps a Buy rating on the shares after the company announced once-weekly canvuparatide achieved the primary endpoint with statistical significance at Week 12 in its Phase 2 Avail trial in adult patients with chronic hypoparathyroidism. The results achieved the firm’s “bull case,” notes the analyst, who is increasing the firm’s view of the odds of success for canvuparatide to 75% from 50% previously and argues the data provides “clear line of sight to blockbuster-plus potential.”