Piper Sandler raised the firm’s price target on Monte Rosa Therapeutics (GLUE) to $37 from $27.50 and keeps an Overweight rating on the shares. The firm notes Monte Rosa reported impressive Phase I GFORCE-1 data on NEK7 degrader MRT-8102 in healthy volunteers and individuals at elevated risk for cardiovascular disease. Monte Rosa now plans to expand GFORCE-1 with more data and initiate the Phase II GFORCE-2 study in ASCVD patients this year.
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