LifeSci Capital analyst Oliver McCammon has maintained their bullish stance on GLUE stock, giving a Buy rating on October 23.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Oliver McCammon has given his Buy rating due to a combination of factors that highlight the potential growth and strategic partnerships of Monte Rosa Therapeutics. One of the key reasons is the company’s collaboration with Novartis, which includes an exclusive license and options to license additional programs. This partnership not only validates the positive results from Monte Rosa’s Phase 1 study of MRT-6160 but also underscores the strength of their QuEEN platform.
Additionally, Monte Rosa is poised to benefit significantly from this collaboration, with the potential to earn over $400 million in revenue over the next two years. The advancement of MRT-6160 into multiple Phase 2 trials, supported by Novartis, further strengthens the company’s position. The prospect of receiving up to $2.1 billion in development, regulatory, and sales milestones, coupled with Novartis’s responsibility for conducting and funding these trials, adds to the attractiveness of Monte Rosa’s stock, justifying the Buy rating.
According to TipRanks, McCammon is a 5-star analyst with an average return of 131.5% and a 64.00% success rate. McCammon covers the Healthcare sector, focusing on stocks such as Monte Rosa Therapeutics, Perspective Therapeutics, and Celcuity.
In another report released on October 23, Guggenheim also maintained a Buy rating on the stock with a $16.00 price target.