H.C. Wainwright Reiterates Buy Rating on Molecular Partners (MOLN)

H.C. Wainwright analyst Robert Burns reiterated a Buy rating and $13.00 price target on Molecular Partners (NASDAQ: MOLN).

The analyst commented: "Molecular Partners sharpens its focus on Radio-DARPins. Late last week, Molecular Partners announced a strategic shift to focus exclusively on its radiolabeled DARPin candidates (Radio-DARPins), prioritizing the execution of the Phase 1/2a trial of its lead clinical asset, MP0712 (a DLL3-targeted, ²¹²Pb-labeled Radio-DARPin), and the advancement of its expanding pipeline of isotope-agnostic Radio-DARPin therapeutics. As part of this realignment, the company plans to reduce its workforce by up to ~44% to streamline operations and optimize resource allocation.
Although the DARPin platform offers broader applications beyond radiotherapeutics, including Switch-DARPins, Molecular Partners intends to pursue these opportunities through strategic partnerships and potential spinouts, providing additional upside beyond its core Radio-DARPin portfolio. We reiterate our Buy rating and $13 12-month price target."

For an analyst ratings summary and ratings history on Molecular Partners click here. For more ratings news on Molecular Partners click here.

Shares of Molecular Partners closed at $3.58 yesterday.

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