Inhibrx Inc. (NASDAQ:INBX) Is 54.67 Percent Above Its 52-Week Low, How Long Will It Keep Rising?
INBX was trading in the red last session, losing -2.24 percent, and has stayed in the red for the past five days, reaching a week-high on Tuesday, 01/11/22, when the stock achieved $31.48 price level, adding 10.77 percent to its value on the day. Inhibrx Inc.’s shares have moved -7.63 percent in the last five days, with a year-to-date movement of -27.91 percent. Inhibrx Inc. is a company based in the United States.
(NASDAQ:INBX) has had a 30-day performance of -22.42 percent. The total number of shares sold short was 0.69 million, implying that it would take 3.55 days to cover the short positions.
The company has an average price target of $54.20 among Wall Street analysts, implying a 41.92 percent increase from its present price. The stock’s low price goal is $50.00, while the high price target is $60.00, according to analysts. As a result, hitting the projected high would result in a -90.6 percent reduction in the stock’s current price, whilst reaching the targeted low would result in a -58.83 percent drop in the stock’s present value.
Inhibrx Inc. (INBX) projections and estimations
Inhibrx Inc. has a higher score than other firms in the relevant industry, according to statistics. In the last six months, the company’s shares have gained 19.20 percent in value, indicating a 31.23 percent annual growth rate vs 7.90 percent for the industry. Aside from that, the firm increased its revenue projections for fiscal year 2022. Revenue growth is expected to fall by -21.30 percent in the current quarter and -13.70 percent in the next quarter, according to the firm. This year’s revenue growth is expected to be -52.70 percent lower than the previous financial year.
Three industry experts have provided forecasts for the company’s current quarter sales, with an average value of $1.71 million. A year ago, the company had sales of $2.78 million and $889k in the current and next quarters, respectively.
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INBX Stock Forecast: Is Inhibrx Inc. (NASDAQ: INBX) Still Unpopular With Analysts?
At the conclusion of trading on Friday, December 17th, Inhibrx Inc. (NASDAQ:INBX) was trading at $44.13, up 3.71 percent from the previous day’s price.
Looking at the stock, we can see that it closed the previous day at $42.55, with a price range of $41.08 to $44.86. INBX has a 52-week high of $50.97 and a low of $14.27 in its price range. Over the last 30 days, the company’s stock has risen roughly 1.96 percent.
Inhibrx Inc. has a market capitalization of $1.64 billion, and its quarterly results announcement is scheduled on May 13, 2021. Analysts predict the business to earn -$0.57 per share (EPS), with EPS growth for the year boosted to -$2.39 for 2021 and -$2.67 for the following year. For the two years, these data imply EPS growth of 20.60 percent and -11.70 percent, respectively.
Analysts following the company’s progress have anticipated a revenue increase of $1.5 million, with a low of $1 million and a high of $2 million. In comparison to the same quarter a year earlier, the consensus prediction shows sales growth compressing down to 50.00 percent. The company’s yearly sales prediction for 2021 is predicted to be $2.27 million, down 82.40 percent from last year’s data, according to analyst consensus forecasts.
In the previous seven days, there have been no upward or downward adjustments to the stock’s EPS, which illustrates the nature of the company’s price movement in the near term. When it comes to the prognosis for the INBX stock, short term indications give it a 50% buy rating, while medium term indicators give it a 100% buy rating. Long-term indicators, on average, place the stock in the “100% Buy” category.
0 analysts have ranked Inhibrx Inc. (INBX) as a Hold, while 5 have rated it as a Buy, based on estimates from 5 analysts, with values ranging from 1.00 for a strong buy to 5.00 for a strong sell. 0 analysts recommend it as overweight, 0 recommend it as underweight, and 0 recommend it as a sell. The stock has a Buy rating, which means that investors may take advantage of the low price and buy stock in the firm.
Further analysis reveals that the present price level is 10.21% off its SMA20 and 10.33% off its 50-day simple moving average. The RSI (14) is currently at 60.37, with volatility of 7.97 percent over the last week and 8.63 percent over the last month. Over the next 12 months, the average price objective for the stock is $54.20, with projections ranging from $50.00 to $60.00. These price ends are -13.3 percent and -35.96 percent below current levels, respectively, yet investors may be enticed by the chance of a -20.1 percent gain if the INBX share price hits the median price of $53.00.
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INBX Stock Forecast: Technical Indicators Analysis of Inhibrx Inc. (INBX)
The shares of Inhibrx Inc. (NASDAQ:INBX) was up $1.23 at last check on Friday, up 3.20 percent to $39.64. Over the last five days, the average number of shares exchanged every day was 262,773 shares. Over the last five days, three new highs have been set, resulting in a $2.58 gain. The average volume over the prior twenty days was 164,153, whereas it was 213,443 for the preceding 50 days.
INBX has down -12.47 percent in the last month. On June 21, the company’s stock plummeted to $35.24, its lowest level in over a month. On 11/02/21, after recovering from a 52-week low of $14.27, the stock hit a 52-week high of $50.97. INBX’s stock price has increased by 16.50 percent, or $6.51, since the beginning of the year, and has reached new highs 11 times. However, since its 52-week high, the stock has dropped by -22.23 percent.
On March 24, Inhibrx Inc. (INBX) last disclosed insider trading activity. Brendan P. Eckelman, the company’s Chief Scientific Officer, sold 17,000 shares for $19.02 on March 24. It resulted in the insider selling his stock for $323,340. On February 17, Wagner Klaus W. sold 19,559 shares at an average price of $25.29. Following the transaction, the insider now owns 215,150 shares. Chief Scientific Officer Brendan P. Eckelman sold 17,000 shares for $25.90 each on February 16. The total value of the deal was $440,300.
Inhibrx Inc.’s quick ratio was 4.70 in the three months ended June 29, while its current ratio was 4.70, indicating that the firm is able to pay down its debt. The long-term debt-to-equity ratio for the quarter ending June 29 was 2.49, according to the business report. According to yearly data, INBX made a gross profit of $80.33 million and a sales of $12.89 million.
Another element that investors evaluate when considering the profitability of an investment is the company’s management. The return on investment (ROI) for the previous year was -64.40 percent. For the previous 12 months, the return on equity (ROE) was -150.00 percent. The industry average ROE was -38.78 in the previous year.
Inhibrx Inc. disclosed total debt of $70.07 million in its June 29 quarter-end financial report. The corporation earned a bigger net income in the most recent quarter than it had in the preceding quarter, according to the results report. During the quarter, INBX’s sales plummeted -133.2 percent to $0.95 million, but net income increased to $2.53 million. Analysts predicted Inhibrx Inc. to announce -$0.56 quarterly profits, but it actually reported -$0.55 per share, surpassing the average estimate by 1.80%. The firm reported a loss of $18.1 million in EBITDA during the quarter. Inhibrx Inc. had 100.98 million in liabilities at the conclusion of its most recent quarter, which concluded on June 29, and $37.3 million in total debt. Shareholders’ stock is worth $37.95 million.
Picture of the Technical
The price momentum of Inhibrx Inc. (INBX) is examined in this brief technical analysis. On December 9, the RSI 9-day was at 47.73 percent, with a historical volatility rate of 101.46 percent.
The current Inhibrx Inc. price is up +6.99 percent percent, or $2.58, over its five-day moving average. INBX shares are now trading -9.28% below their 20-day simple moving average and +37.47% above their 100-day simple moving average. However, the stock is now trading 18.52 percent higher than its SMA50 and 55.31 percent higher than its SMA200.
The stochastic coefficients K and D were 51.81 percent and 49.75 percent, respectively, with an ATR of 3.34. The RSI (14) reading has been estimated as 48.25 percent based on the Stochastic reading of 51.21 percent for the 14-day period. The MACD Oscillator is currently at 0.53, with the 14-day value at 0.33.
On September 21, 2021, JMP Securities upgraded Inhibrx Inc. (NASDAQ: INBX) to a Mkt outperform rating in a letter to investors. Analysts have given Inhibrx Inc. (INBX) a Buy rating. INBX is a sell according to 0 brokerage companies, and a hold according to 0 brokerage firms. According to 0 analysts, the stock is underweight. Inhibrx Inc. is rated as a buy by 0 analysts, with 5 rating it as overweight by 5.
The current average prediction for the stock is $50.00 – $60.00, with a median target price of $53.00. Analysts expect that Inhibrx Inc. (INBX) will reach an average price objective of $54.20 based on these projections.
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Short interest in Inhibrx, Inc. (NASDAQ:INBX) fell by 25.2 percent in November.
In November, short interest in Inhibrx, Inc. (NASDAQ:INBX) fell dramatically. Short interest at 641,400 shares as on November 15th, down 25.2 percent from the previous day’s total of 857,700 shares. Short sales account for about 2.8 percent of the stock’s outstanding shares. The short-interest ratio is now 3.4 days, based on an average daily trading volume of 186,900 shares.
On Friday, INBX shares fell $2.74 to $37.12 per share. The company’s stock changed hands 1,993 times, compared to 173,830 times on average. The 12-month low for Inhibrx is $14.27, and the 12-month high is $50.97. The debt-to-equity ratio of the firm is 2.68, the quick ratio is 4.73, and the current ratio is 4.73. The business has a $1.41 billion market capitalization, a P/E ratio of -19.26, and a beta of 2.31. The company’s 50-day moving average price is $38.86, with a 200-day moving average price of $31.44.
On Tuesday, November 9th, Inhibrx (NASDAQ:INBX) released its latest earnings report. The firm announced ($0.54) EPS for the quarter, which was $0.06 higher than analysts’ expectations of ($0.60). Inhibrx had a negative net margin of 1,093.94 percent and a negative return on equity of 150.02 percent. The company earned $2.53 million in sales during the quarter, compared to $1.00 million in the average expectation. Inhibrx is expected to earn -2.07 per share this year, according to research experts.
INBX stock has lately been purchased and sold by a number of hedge funds and other institutional investors. During the first quarter, Goldman Sachs Group Inc. increased its holdings in Inhibrx by 240.2 percent. After acquiring an additional 30,067 shares in the last quarter, Goldman Sachs Group Inc. now owns 42,584 shares of the company’s stock worth $855,000. Morgan Stanley increased its holdings in Inhibrx by 471.2 percent in the first quarter. Morgan Stanley now owns 35,228 shares of the company’s stock, valued at $707,000, after adding 29,061 shares in the last quarter. During the first quarter, Millennium Management LLC increased its holdings in Inhibrx by 14.8%. After acquiring an additional 10,714 shares in the last quarter, Millennium Management LLC now owns 83,018 shares of the company’s stock, valued at $1,666,000. During the second quarter, Alliancebernstein L.P. purchased a new investment in Inhibrx for around $660,000. Finally, Advisor Group Holdings Inc. increased its holdings in Inhibrx by 188.4% in the second quarter. After acquiring an additional 6,970 shares in the last quarter, Advisor Group Holdings Inc. now owns 10,670 shares of the company’s stock, valued at $294,000. Institutional investors and hedge funds own 51.66 percent of the stock.
A number of analysts have lately expressed their opinions on INBX stock. In a research report issued on Wednesday, November 10th, Credit Suisse Group raised their price target on Inhibrx from $44.00 to $53.00 and assigned the stock a “outperform” rating. In a research study released on Thursday, Zacks Investment Research downgraded Inhibrx from a “buy” to a “hold” recommendation. Finally, in a research note released on Tuesday, November 2nd, JMP Securities raised their target price on Inhibrx from $46.00 to $53.00 and gave the company a “outperform” rating.
marketbeat.com is the source for this information.
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