Monte Rosa Therapeutics (NASDAQ:GLUE) Issues Quarterly Earnings Results

Monte Rosa Therapeutics (NASDAQ:GLUE) posted its earnings results on Thursday. The company reported $0.23 EPS for the quarter, topping the consensus estimate of ($0.37) by $0.60, Zacks reports. The firm had revenue of $14.00 million for the quarter, compared to the consensus estimate of $43.73 million.

Monte Rosa Therapeutics Price Performance

NASDAQ:GLUE opened at $7.06 on Friday. The company has a market capitalization of $433.75 million, a P/E ratio of -3.86 and a beta of 1.50. The business has a fifty day simple moving average of $6.18 and a two-hundred day simple moving average of $6.77. Monte Rosa Therapeutics has a 1 year low of $3.21 and a 1 year high of $12.40.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Lifesci Capital initiated coverage on Monte Rosa Therapeutics in a report on Wednesday, March 12th. They set an “outperform” rating and a $19.00 price target on the stock. Wedbush reiterated an “outperform” rating and set a $17.00 target price (up from $15.00) on shares of Monte Rosa Therapeutics in a research note on Thursday. Finally, Wells Fargo & Company lowered shares of Monte Rosa Therapeutics from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $14.00 to $11.00 in a research report on Thursday, December 19th.

Monte Rosa Therapeutics Company Profile

Monte Rosa Therapeutics, Inc, a clinical-stage biotechnology company, engages in the development of novel small molecule precision medicines that employ the body's natural mechanisms to selectively degrade therapeutically relevant proteins. The company develops MRT-2359, an orally bioavailable molecular glue degrader targeting the translation termination factor protein GSPT1 for the treatment of MYC-driven tumors; MRT-6160 for the treatment of systemic and central nervous system autoimmune diseases; and MRT-8102 for the treatment of IL-1?/NLRP3 driven inflammatory diseases.