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Cowen Initiates Coverage On Molecular Partners With Price Target Of $50

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  • Cowen & Co initiated coverage on Molecular Partners (NASDAQ: MOLN) with an Outperform rating and a Price Target of , implying an upside potential of more than 150%.

  • The company and its partner Novartis AG (NYSE: NVS) recently shared preclinical data showing that ensovibep retains full potency and viral inhibition against all known COVID-19 variants in circulation, including the key Delta variants.

  • It outlined progress on its global Phase 2/3 study in ambulatory COVID-19 patients.

  • Interim data from EMPATHY Phase 2/3 trial is expected in H2 2021, and complete topline data expected in early 2022.

  • The company started trading in the U.S market just a month back, wherein it sold 3 million shares at $21.25 each.

  • The stock is already trading on the Swiss exchange since 2014.

  • Price Action: MOLN shares are up 3.3% at $19.88 during the premarket session on the last check Tuesday.

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