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

Monte Rosa Therapeutics (NASDAQ:GLUE) issued its quarterly earnings data on Thursday. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.24, FiscalAI reports. The company had revenue of $54.37 million during the quarter, compared to analysts’ expectations of $33.87 million. Monte Rosa Therapeutics had a negative return on equity of 31.63% and a negative net margin of 186.24%.

Monte Rosa Therapeutics Stock Performance

NASDAQ:GLUE traded up $0.32 on Friday, hitting $10.57. 1,005,563 shares of the stock were exchanged, compared to its average volume of 1,514,031. Monte Rosa Therapeutics has a 52 week low of $9.68 and a 52 week high of $25.77. The company’s 50-day moving average price is $11.70 and its 200 day moving average price is $17.09.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Zacks Research raised shares of Monte Rosa Therapeutics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Wells Fargo & Company cut their target price on shares of Monte Rosa Therapeutics from $27.00 to $25.00 and set an “overweight” rating for the company in a research note on Friday. Wedbush reissued an “outperform” rating and issued a $27.00 target price on shares of Monte Rosa Therapeutics in a report on Wednesday, September 9th. HC Wainwright assumed 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. Finally, Weiss Ratings lowered Monte Rosa Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Monte Rosa Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.44.

About Monte Rosa Therapeutics

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.