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

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

(Get Free Report)

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.

See Also

Earnings History for Monte Rosa Therapeutics (NASDAQ:GLUE)

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