Molecular Partners (NASDAQ:MOLN) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Molecular Partners (NASDAQ:MOLN) issued its quarterly earnings results on Thursday. The company reported ($0.38) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.08, Zacks reports.

Molecular Partners Price Performance

Molecular Partners stock traded up $0.10 during trading on Friday, reaching $3.63. 1,523 shares of the company were exchanged, compared to its average volume of 4,315. Molecular Partners has a 52-week low of $3.51 and a 52-week high of $5.36. The stock’s 50 day simple moving average is $4.05 and its two-hundred day simple moving average is $4.18. The company has a market capitalization of $146.74 million, a P/E ratio of -2.13 and a beta of 1.11.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MOLN. HC Wainwright reaffirmed a “buy” rating on shares of Molecular Partners in a research report on Monday, July 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Molecular Partners in a research report on Friday, October 2nd. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $8.38.

Molecular Partners Company Profile

Molecular Partners AG is a clinical-stage biotechnology company headquartered in Schlieren, Switzerland. The company develops therapeutic molecules based on its proprietary DARPin platform, which uses designed ankyrin repeat proteins to create targeted, multi-specific medicines intended to address complex disease pathways.

Molecular Partners’ research and development activities have focused primarily on oncology, ophthalmology and infectious diseases. Its pipeline has included experimental programs designed to engage multiple biological targets, with the goal of improving treatment effectiveness and addressing limitations associated with conventional antibody-based therapies.