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Investing.com - H.C. Wainwright initiated coverage on Monopar Therapeutics (NASDAQ:MNPR), a $187 million market cap biotech company, with a Buy rating and a price target of $70.00 on Tuesday. The stock has delivered an impressive 1,061% return over the past year.
The research firm believes ALXN1840, Monopar’s drug for Wilson’s disease, has been "profoundly misunderstood" despite showing superior copper mobilization and neurologic benefit in Phase 3 trials. AstraZeneca previously terminated development of the drug based on copper balance studies that suggested net retention. According to InvestingPro data, analysts maintain a strong consensus on the stock with price targets ranging from $40 to $76.
H.C. Wainwright argues these studies were "short, incomplete, and blind to critical elimination routes" including dermal excretion. The firm conducted proprietary key opinion leader research with hepatologists who view the albumin-based copper sequestration approach as "elegant" and "physiologic."
Monopar acquired full rights to ALXN1840 for $4 million plus milestones, a fraction of the $855 million Alexion once paid for Wilson Therapeutics, according to the research note.
The firm expects Monopar to submit a New Drug Application (NDA) for ALXN1840 in early 2026, describing it as a "late-stage, de-risked asset."
In other recent news, Monopar Therapeutics has been added to the Russell 3000 and Russell 2000 indexes. This inclusion is considered a recognition of the company’s growth, particularly due to the development of its late-stage drug candidate, ALXN1840, for Wilson disease. The drug, acquired from Alexion, AstraZeneca’s subsidiary, is a novel small molecule designed to selectively bind and remove copper from the body’s tissues and blood. Additionally, Chardan Capital Markets has initiated coverage on Monopar Therapeutics with a buy rating and a $60 price target. This decision is based on the potential of the company’s late-stage Wilson disease treatment and its early-stage radiopharmaceutical pipeline. Monopar’s Chief Financial Officer, Quan Vu, expressed pride in joining the Russell indexes, attributing the achievement to the recognition of their drug candidate’s potential. The developments reflect Monopar’s ongoing efforts to address unmet medical needs.
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