Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Stock Has Average Target Price of $26.67

by · The Markets Daily

Shares of Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the twelve research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $26.67.

A number of research firms have recently commented on GLUE. Wedbush reissued an “outperform” rating and set a $27.00 target price on shares of Monte Rosa Therapeutics in a research report on Wednesday, September 9th. Wells Fargo & Company lowered their price target on shares of Monte Rosa Therapeutics from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Raymond James Financial set a $25.00 price target on shares of Monte Rosa Therapeutics in a research note on Monday, October 5th. Weiss Ratings lowered shares of Monte Rosa Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Monte Rosa Therapeutics from $31.00 to $27.00 and set an “overweight” rating on the stock in a report on Friday, August 7th.

Read Our Latest Analysis on GLUE

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Assenagon Asset Management S.A. acquired a new position in Monte Rosa Therapeutics in the third quarter worth about $2,260,000. State of Alaska Department of Revenue acquired a new stake in shares of Monte Rosa Therapeutics during the 3rd quarter worth approximately $48,000. Opaleye Management Inc. bought a new stake in Monte Rosa Therapeutics in the second quarter valued at $18,029,000. Squarepoint Ops LLC increased its stake in shares of Monte Rosa Therapeutics by 123.6% in the second quarter. Squarepoint Ops LLC now owns 82,953 shares of the company’s stock valued at $2,007,000 after purchasing an additional 45,846 shares during the period. Finally, Arizona State Retirement System acquired a new stake in Monte Rosa Therapeutics in the 2nd quarter valued at approximately $321,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

Monte Rosa Therapeutics Stock Performance

Shares of NASDAQ:GLUE opened at $10.66 on Tuesday. The company has a market cap of $909.40 million, a P/E ratio of -6.06 and a beta of 1.37. Monte Rosa Therapeutics has a one year low of $8.94 and a one year high of $25.77. The business’s 50-day simple moving average is $12.87 and its 200 day simple moving average is $17.29.

Monte Rosa Therapeutics (NASDAQ:GLUE – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.05). 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 $8.97 million during the quarter, compared to analysts’ expectations of $12.91 million. Analysts predict that Monte Rosa Therapeutics will post -1.23 earnings per share for the current year.

About Monte Rosa Therapeutics

(Get Free Report)

Monte Rosa Therapeutics, Inc is a clinical-stage biotechnology company focused on developing medicines that selectively eliminate disease-causing proteins. The company uses its proprietary molecular glue degrader platform to identify small molecules that recruit targeted proteins to the cell’s natural protein-disposal machinery, potentially addressing proteins that have been difficult to treat with conventional drugs.

Monte Rosa’s pipeline is centered primarily on autoimmune and inflammatory diseases, as well as other serious conditions.

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