JonesTrading raises PT on Monopar Therapeutics after AstraZeneca agreement

Monopar Therapeutics

20/11/2024 12:41

** JonesTrading raises PT on drug developer Monopar
Therapeutics  MNPR.O  to $37 from $9
    ** Brokerage says MNPR signed agreement with AstraZeneca
 AZN.L  unit Alexion for exclusive worldwide licensing of
ALXN-1840 for the treatment of Wilson's disease
    ** Wilson's disease is a rare genetic condition that causes
the buildup of copper to toxic levels
   ** JonesTrading says ALXN-1840 has the potential to give MNPR
a steady cash flow to fund other development efforts
    ** Brokerage reiterates "buy" rating; PT of $37 is ~94.6%
upside on stock's last close
    ** All of three brokerages rate the stock "buy"; their
median PT is $23 - LSEG data
    ** As of last close, stock up ~1,017.6% YTD

 (Reporting by Prakhar Srivastava in Bengaluru)
 ((Prakhar.srivastava2@thomsonreuters.com))