LifeSci Capital analyst Oliver McCammon has maintained their bullish stance on GLUE stock, giving a Buy rating yesterday.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Oliver McCammon’s rating is based on Monte Rosa Therapeutics’ positive progress in its development pipeline, particularly focusing on its GSPT1-directed molecular glue degrader (MGD), MRT-2359. The company reported promising Phase 1/2 trial interim results for heavily pretreated metastatic castration-resistant prostate cancer (mCRPC) patients with androgen receptor (AR) mutations, demonstrating strong efficacy signals, including notable PSA50 and PSA90 response rates.
Additionally, Monte Rosa’s decision to prioritize and advance the MRT-2359 + enzalutamide combination into a Phase 2 study showcases strategic refinement in its clinical efforts. While the dataset remains small, the early results compare favorably to reference studies in this competitive space, highlighting potential differentiation. This progress adds to the company’s ability to navigate a space of unmet medical needs and positions it well for further development and potential success.
In another report released yesterday, Wells Fargo also upgraded the stock to a Buy with a $22.00 price target.