Molecular Partners AG (NASDAQ:MOLN - Get Rating) - Research analysts at SVB Leerink decreased their FY2023 earnings estimates for Molecular Partners in a research report issued on Wednesday, November 23rd. SVB Leerink analyst D. Graybosch now forecasts that the company will post earnings of ($1.94) per share for the year, down from their prior forecast of ($1.93). SVB Leerink currently has a "Market Perform" rating and a $8.00 target price on the stock. The consensus estimate for Molecular Partners' current full-year earnings is $3.59 per share. SVB Leerink also issued estimates for Molecular Partners' FY2024 earnings at ($2.19) EPS, FY2025 earnings at ($3.17) EPS and FY2026 earnings at ($2.38) EPS.
Separately, Royal Bank of Canada downgraded Molecular Partners from an "outperform" rating to a "sector perform" rating in a research report on Tuesday, August 30th.
Molecular Partners Trading Down 1.8 %
Shares of Molecular Partners stock opened at $6.57 on Monday. Molecular Partners has a one year low of $5.50 and a one year high of $32.04. The business's 50 day moving average price is $6.39 and its 200 day moving average price is $6.57.
Molecular Partners (NASDAQ:MOLN - Get Rating) last posted its earnings results on Thursday, October 27th. The company reported ($0.42) EPS for the quarter. The company had revenue of $2.45 million during the quarter.
Institutional Investors Weigh In On Molecular Partners
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MOLN. Federated Hermes Inc. raised its position in Molecular Partners by 94.2% in the first quarter. Federated Hermes Inc. now owns 457,037 shares of the company's stock valued at $9,264,000 after purchasing an additional 221,743 shares during the period. AlphaCentric Advisors LLC purchased a new stake in Molecular Partners in the third quarter valued at $218,000. Finally, Tang Capital Management LLC purchased a new stake in Molecular Partners in the third quarter valued at $105,000. Hedge funds and other institutional investors own 2.70% of the company's stock.
About Molecular Partners
Molecular Partners AG operates as a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutic proteins. Its products candidates include Abicipar, a DARPin therapeutic candidate, which is in Phase III clinical trials for the treatment of neovascular wet age-related macular degeneration, as well as for diabetic macular edema; and MP0420, a multi-specific DARPin therapeutic candidate for the SARS-CoV-2 virus.
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