MBX Biosciences' (MBX) hypoparathyroidism drug, canvuparatide, is a "key catalyst" for the company as its potentially favorable efficacy to current treatments could be a $2 billion global peak sales opportunity, said Oppenheimer said in a Wednesday note.
Oppenheimer said its enthusiasm for MBX Biosciences stems from the company's precision endocrine peptide platform and its potential to "redefine standards" in endocrine and metabolic disease treatment.
The firm initiated coverage on MBX Biosciences with an outperform rating and a $38 price target.
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