LifeSci Capital analyst Oliver McCammon maintained a Buy rating on Monte Rosa Therapeutics (GLUE – Research Report) today and set a price target of $19.00.
Oliver McCammon has given his Buy rating due to a combination of factors that highlight Monte Rosa Therapeutics’ promising clinical developments and strategic partnerships. The company’s lead program, MRT-2359, is advancing in clinical trials targeting GSPT1 for MYC expressing tumors, which are prevalent across various cancers. Early clinical responses in castration-resistant prostate cancer (CRPC) patients treated with MRT-2359 in combination with enzalutamide have shown encouraging results, including partial responses and stable disease, prompting plans to expand the CRPC cohort.
Additionally, Monte Rosa’s collaboration with Novartis for the development and commercialization of MRT-6160, targeting VAV1, underscores the potential of their pipeline. The company’s robust financial position, with a cash runway of over three years, further supports its ability to continue advancing its clinical programs. These factors collectively contribute to McCammon’s optimistic outlook and Buy rating for Monte Rosa Therapeutics.
According to TipRanks, McCammon is an analyst with an average return of -14.6% and a 33.33% success rate. McCammon covers the Healthcare sector, focusing on stocks such as Janux Therapeutics Inc, Monte Rosa Therapeutics, and Aura Biosciences Inc.
In another report released today, Piper Sandler also reiterated a Buy rating on the stock with a $20.00 price target.
Questions or Comments about the article? Write to editor@tipranks.com