Molecular Partners (NASDAQ:MOLN) Given New CHF 23 Price Target at Credit Suisse Group

Molecular Partners (NASDAQ:MOLN) had its price objective upped by equities research analysts at Credit Suisse Group from CHF 17 to CHF 23 in a research note issued on Friday, The Fly reports.

Other equities analysts have also issued reports about the company. Zacks Investment Research upgraded Molecular Partners from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Thursday, January 6th. SVB Leerink raised their target price on shares of Molecular Partners from $35.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $25.90.

Shares of MOLN stock traded up $3.45 during trading hours on Friday, hitting $31.75. 3,518 shares of the company’s stock were exchanged, compared to its average volume of 80,765. Molecular Partners has a 12-month low of $9.57 and a 12-month high of $29.29. The business’s 50 day simple moving average is $16.26 and its 200-day simple moving average is $18.47.

Molecular Partners (NASDAQ:MOLN) last issued its earnings results on Thursday, October 28th. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.14. The business had revenue of $3.85 million during the quarter, compared to analysts’ expectations of $2.00 million. On average, research analysts predict that Molecular Partners will post -2.56 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the company. Morgan Stanley bought a new stake in shares of Molecular Partners in the 2nd quarter worth approximately $25,000. OLD Mission Capital LLC bought a new position in Molecular Partners in the 2nd quarter valued at approximately $303,000. Caas Capital Management LP bought a new position in Molecular Partners in the 2nd quarter valued at approximately $1,229,000. Millennium Management LLC bought a new position in Molecular Partners in the 2nd quarter valued at approximately $1,390,000. Finally, Sphera Funds Management LTD. bought a new position in Molecular Partners in the 3rd quarter valued at approximately $1,580,000. 12.10% of the stock is currently owned by hedge funds and other institutional investors.

Molecular Partners Company Profile

Molecular Partners AG operates as a clinical-stage biopharmaceutical company. It is developing Abicipar, a DARPin therapeutic candidate, which is in Phase III clinical trials for the treatment of wet age-related macular degeneration, as well as for diabetic macular edema; and MP0250 that binds and inhibit vascular endothelial growth factor and hepatocyte growth factor pathways, which restores clinical sensitivity to various standard-of-care therapies in multiple myeloma.

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