Molecular Partners AG (NASDAQ:MOLN – Get Rating) – Equities researchers at SVB Leerink decreased their FY2023 earnings per share estimates for shares of Molecular Partners in a research note issued to investors on Wednesday, November 23rd. SVB Leerink analyst D. Graybosch now anticipates that the company will post earnings per share of ($1.94) for the year, down from their previous estimate of ($1.93). SVB Leerink currently has a "Market Perform" rating and a $8.00 price target on the stock. The consensus estimate for Molecular Partners' current full-year earnings is $3.59 per share. SVB Leerink also issued estimates for Molecular Partners' FY2024 earnings at ($2.19) EPS, FY2025 earnings at ($3.17) EPS and FY2026 earnings at ($2.38) EPS.
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Molecular Partners (NASDAQ:MOLN – Get Rating) last announced its earnings results on Thursday, October 27th. The company reported ($0.42) earnings per share for the quarter. The firm had revenue of $2.45 million during the quarter.
Separately, Royal Bank of Canada downgraded Molecular Partners from an "outperform" rating to a "sector perform" rating in a research note on Tuesday, August 30th.
Molecular Partners Trading Down 1.8 %
NASDAQ:MOLN opened at $6.57 on Monday. Molecular Partners has a one year low of $5.50 and a one year high of $32.04. The stock has a 50-day simple moving average of $6.39 and a 200 day simple moving average of $6.57.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in MOLN. Federated Hermes Inc. grew its holdings in shares of Molecular Partners by 94.2% during the 1st quarter. Federated Hermes Inc. now owns 457,037 shares of the company's stock valued at $9,264,000 after acquiring an additional 221,743 shares in the last quarter. AlphaCentric Advisors LLC acquired a new stake in shares of Molecular Partners in the 3rd quarter valued at $218,000. Finally, Tang Capital Management LLC acquired a new stake in shares of Molecular Partners in the 3rd quarter valued at $105,000. Institutional investors and hedge funds own 2.70% of the company's stock.
About Molecular Partners
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Molecular Partners AG operates as a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutic proteins. Its products candidates include Abicipar, a DARPin therapeutic candidate, which is in Phase III clinical trials for the treatment of neovascular wet age-related macular degeneration, as well as for diabetic macular edema; and MP0420, a multi-specific DARPin therapeutic candidate for the SARS-CoV-2 virus.
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