Monte Rosa Therapeutics (NASDAQ:GLUE – Get Free Report) issued its earnings results on Thursday. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.24, FiscalAI reports. Monte Rosa Therapeutics had a negative net margin of 560.85% and a negative return on equity of 43.31%. The company had revenue of $54.37 million for the quarter, compared to analysts’ expectations of $33.87 million.
Monte Rosa Therapeutics Stock Performance
Shares of NASDAQ GLUE traded up $0.32 during mid-day trading on Friday, hitting $10.57. The stock had a trading volume of 1,005,563 shares, compared to its average volume of 1,513,058. The firm has a market cap of $901.73 million, a PE ratio of -7.55 and a beta of 1.40. The company has a 50 day moving average of $11.70 and a two-hundred day moving average of $17.09. Monte Rosa Therapeutics has a twelve month low of $9.68 and a twelve month high of $25.77.
Wall Street Analysts Forecast Growth
GLUE has been the topic of several research reports. Wall Street Zen raised shares of Monte Rosa Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday. Wedbush reaffirmed an “outperform” rating and set a $27.00 target price on shares of Monte Rosa Therapeutics in a research report on Wednesday, September 9th. Zacks Research upgraded Monte Rosa Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. HC Wainwright began coverage on Monte Rosa Therapeutics in a report on Thursday, October 1st. They issued a “buy” rating and a $25.00 price target on the stock. Finally, Raymond James Financial set a $25.00 price target on Monte Rosa Therapeutics in a research report on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $26.44.
View Our Latest Report on GLUE
Monte Rosa Therapeutics Company Profile
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.
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