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

by · The Markets Daily

Monte Rosa Therapeutics (NASDAQ:GLUE – Get Free Report) released its quarterly earnings data on Thursday. The company reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.24, FiscalAI reports. The business had revenue of $54.37 million for the quarter, compared to the consensus estimate of $33.87 million. Monte Rosa Therapeutics had a negative net margin of 560.85% and a negative return on equity of 43.31%.

Monte Rosa Therapeutics Stock Up 3.1%

Shares of NASDAQ:GLUE traded up $0.32 during trading on Friday, reaching $10.57. 1,005,563 shares of the company’s stock traded hands, compared to its average volume of 1,513,058. Monte Rosa Therapeutics has a fifty-two week low of $9.68 and a fifty-two week high of $25.77. 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 simple moving average of $11.70 and a 200-day simple moving average of $17.09.

Analyst Ratings Changes

A number of research firms recently issued reports on GLUE. Raymond James Financial set a $25.00 target price on shares of Monte Rosa Therapeutics in a research report on Monday, October 5th. HC Wainwright initiated coverage on Monte Rosa Therapeutics in a research report on Thursday, October 1st. They set a “buy” rating and a $25.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on Monte Rosa Therapeutics from $31.00 to $27.00 and set an “overweight” rating for the company in a research note on Friday, August 7th. Wedbush reissued an “outperform” rating and issued a $27.00 price objective on shares of Monte Rosa Therapeutics in a report on Wednesday, September 9th. Finally, Wall Street Zen upgraded Monte Rosa Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $26.44.

View Our Latest Stock Analysis on GLUE

About Monte Rosa Therapeutics

(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.

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