Wedbush raised the firm’s price target on Monte Rosa Therapeutics (GLUE) to $37 from $26 and keeps an Outperform rating on the shares after the company announced positive interim data from an ongoing Phase 1 clinical study evaluating MRT-8102 for the treatment of inflammatory conditions. Monte Rosa also expects to initiate a Phase 2 study in atherosclerotic cardiovascular disease patients in 2026, and is currently evaluating additional potential indications including metabolic dysfunction-associated steatohepatitis, gout, and recurrent pericarditis, notes the analyst, who is updating the firm’s model to include credit for ASCVD for MRT-8102.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GLUE:
- Here’s Why Monte Rosa Therapeutics Stock (GLUE) Rocketed Today
- Monte Rosa Therapeutics: Early MRT-8102 hsCRP Data Underscore Differentiated NLRP3 Opportunity and Attractive Risk-Reward Supporting Buy Rating
- Monte Rosa reports positive Phase 1 data for MRT-8102
- Monte Rosa Therapeutics announces Phase 1 data of MRT-8102
- Monte Rosa Therapeutics: Promising Progress with MRT-2359 in Advanced Prostate Cancer