Raymond James Downgrades Monopar Therapeutics (MNPR) to Outperform

Raymond James analyst Chris Raymond downgraded Monopar Therapeutics (NASDAQ: MNPR) from Strong Buy to Outperform with a price target of $123.00 (from $142.00).

The analyst comments "Downgrading to Outperform with a new price target of $123 due to a higher risk profile than we had anticipated. While the story behind ALXN1840’s circuitous development path is truly one for the ages, and we continue to believe the drug ultimately garners approval in Wilson disease, a cornerstone of our thesis has been management’s depiction of a Wilson disease community that is clamoring for this drug. To gain some degree of validation, we talked to four Wilson KOLs and were surprised to encounter mostly tepid enthusiasm – and in some cases, worse – for the drug. Acknowledging this is a smallish sample size, we do think this feedback underscores a heavier commercial lift than first imagined. No change to estimates just yet, but we think a higher risk premium to our estimates is warranted here, which brings our price target down to $123, and hence our removal of the Strong Buy rating."

For an analyst ratings summary and ratings history on Monopar Therapeutics click here. For more ratings news on Monopar Therapeutics click here.

Shares of Monopar Therapeutics closed at $87.01 yesterday.

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