TD Cowen analyst Michael Nedelcovych maintained a Buy rating on Molecular Partners AG (MLLCF – Research Report) today and set a price target of CHF15.00.
Michael Nedelcovych’s rating is based on a comprehensive evaluation of Molecular Partners AG’s financial performance and future prospects. The company’s revenue for 2023 was reported at CHF 7MM, exceeding expectations, and its non-GAAP loss per share of CHF 1.89 was notably better than projected. Additionally, Molecular Partners has demonstrated prudence in managing its expenses, with both SG&A and R&D costs coming in below estimates. This financial discipline, combined with the company’s solid cash reserves, positions it well for continuous operation and development into the year 2026.
Furthermore, the progress in the company’s pipeline, particularly with MP0533 in acute myeloid leukemia (AML), has been encouraging. The ability to add higher dose cohorts due to a good safety profile indicates the potential for improved efficacy. The anticipation of additional data in the first half of the year could serve as a catalyst for the stock. The potential of the company’s Switch DARPin platform and the entry of DLL3 radioDARPin into clinical trials by 2025 further underscore the innovative nature of Molecular Partners’ pipeline and its long-term potential, prompting the Buy rating from Nedelcovych.
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Molecular Partners AG (MLLCF) Company Description:
Molecular Partners AG engages in the development of protein therapies for treatment of serious diseases like cancer and sight-threatening disorders. It also develops its products through its brand known as DARPins, which targets specific and potent monoclonal antibodies that offers potential to address existing limitations of antibody drugs. The company products include Abicipar, MP0250/MP0274 and Clinical Trials. Molecular Partners was founded by Christian Zahnd, Patrick Amstutz, Patrik Forrer, Andreas Plückthun and Michael Tobias Stumpp on November 23, 2004 and is headquartered in Zurich, Switzerland.
Read More on MLLCF:
- Molecular Partners Reports Corporate Highlights From Q4 2023 and Key Financials for Full Year 2023
- Molecular Partners Announces Dismissal of Class Action Lawsuit
- Molecular Partners To Hold Conference Call to Discuss Fourth Quarter and Full Year 2023 Results and Announces Upcoming Investor Presentations
