TD Cowen analyst Marc Frahm has maintained their bullish stance on GLUE stock, giving a Buy rating on March 12.
Marc Frahm’s rating is based on a mix of promising early clinical data and strategic development milestones for Monte Rosa Therapeutics. The company’s lead candidate, MRT-2359, has shown clinical activity in a Phase I trial without causing certain adverse events typically associated with GSPT1 directed programs. Furthermore, the selection of a recommended Phase II dose (RP2D) is anticipated in the near term, with more detailed data expected to be presented later, which could positively impact the stock’s valuation.
Additionally, Monte Rosa’s pipeline includes other promising candidates like MRT-6160 and MRT-8102, which are progressing towards clinical development. The company’s ability to target previously “undruggable” molecules like VAV1 with a novel approach suggests a unique competitive edge. Frahm’s Buy rating reflects the potential for significant value creation as these programs advance and as the company reveals more data supporting their therapeutic candidates.
According to TipRanks, Frahm is a 5-star analyst with an average return of 29.7% and a 51.22% success rate. Frahm covers the Healthcare sector, focusing on stocks such as Incyte, Revolution Medicines, and Kymera Therapeutics.
In another report released on March 12, Piper Sandler also reiterated a Buy rating on the stock with a $19.00 price target.
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Monte Rosa Therapeutics (GLUE) Company Description:
Monte Rosa Therapeutics Inc is a biopharmaceutical company involved in developing a portfolio of novel small molecule precision medicines that employ the body’s natural mechanisms to degrade therapeutically relevant proteins. It has developed a protein degradation platform, called QuEEN, that enables to rapidly identify protein targets and molecular glue degrader, or MGD, product candidates.
Read More on GLUE:
- Monte Rosa Therapeutics Unveils Corporate Strategy Presentation
- Monte Rosa Therapeutics Announces Fourth Quarter and Full Year 2023 Financial Results and Provides Corporate Update
- Monte Rosa Therapeutics initiates IND-enabling studies for MRT-8102
- Monte Rosa Therapeutics Announces Initiation of IND Enabling Studies for MRT-8102, A First-in-Class NEK7 Directed Molecular Glue Degrader and NLRP3/IL-1β Pathway Inhibitor
- Wedbush starts Monte Rosa at Outperform on ‘highly differentiated’ programs
