Monte Rosa Therapeutics (NASDAQ:GLUE) Announces Earnings Results, Beats Estimates By $0.24 EPS

Monte Rosa Therapeutics (NASDAQ:GLUE) issued its quarterly earnings results on Thursday. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.24, FiscalAI reports. Monte Rosa Therapeutics had a negative return on equity of 43.31% and a negative net margin of 560.85%. The company had revenue of $54.37 million for the quarter, compared to the consensus estimate of $33.87 million.

Monte Rosa Therapeutics Stock Up 3.1%

Shares of Monte Rosa Therapeutics stock traded up $0.32 during mid-day trading on Friday, reaching $10.57. 1,005,563 shares of the stock traded hands, compared to its average volume of 1,513,058. The stock has a market capitalization of $901.73 million, a PE ratio of -7.55 and a beta of 1.40. The business has a 50-day moving average of $11.70 and a 200 day moving average of $17.09. Monte Rosa Therapeutics has a fifty-two week low of $9.68 and a fifty-two week high of $25.77.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wedbush restated an “outperform” rating and issued a $27.00 price objective on shares of Monte Rosa Therapeutics in a research report on Wednesday, September 9th. JPMorgan Chase & Co. decreased their target price on Monte Rosa Therapeutics from $31.00 to $27.00 and set an “overweight” rating on the stock in a research report on Friday, August 7th. Zacks Research raised shares of Monte Rosa Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Wells Fargo & Company dropped their price target on shares of Monte Rosa Therapeutics from $27.00 to $25.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, UBS Group started coverage on shares of Monte Rosa Therapeutics in a report on Sunday, October 11th. They issued a “buy” rating and a $19.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $26.44.

About Monte Rosa Therapeutics

Monte Rosa Therapeutics, Inc is a clinical-stage biotechnology company focused on developing molecular glue degraders, a class of medicines designed to eliminate disease-causing proteins by directing them to the cell’s natural protein-degradation machinery. The company’s approach is intended to address targets that may be difficult to inhibit with conventional small-molecule drugs.

Monte Rosa uses its QuEEN platform to discover and optimize molecular glue degraders for diseases involving dysregulated immune responses and other biological pathways.