Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Stock Has Consensus Target Price of $26.67 According to Brokerages

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) has been assigned a consensus rating of “Moderate Buy” from the twelve research firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $26.67.

A number of equities analysts have weighed in on the stock. Weiss Ratings downgraded shares of Monte Rosa Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. Jefferies Financial Group reiterated a “buy” rating on shares of Monte Rosa Therapeutics in a report on Monday, July 27th. JPMorgan Chase & Co. lowered their price objective on shares of 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. Wells Fargo & Company dropped their price objective on Monte Rosa Therapeutics from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Friday, August 7th. Finally, UBS Group restated a “buy” rating and set a $19.00 price objective (up from $17.00) on shares of Monte Rosa Therapeutics in a report on Sunday, October 11th.

Monte Rosa Therapeutics Price Performance

Shares of GLUE stock opened at $9.74 on Tuesday. The firm has a market cap of $830.92 million, a P/E ratio of -5.53 and a beta of 1.37. Monte Rosa Therapeutics has a 1-year low of $8.94 and a 1-year high of $25.77. The firm’s 50-day simple moving average is $12.97 and its 200-day simple moving average is $17.32.

Monte Rosa Therapeutics (NASDAQ:GLUE) last released its earnings results on Thursday, August 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $12.91 million. Analysts expect that Monte Rosa Therapeutics will post -1.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Monte Rosa Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Monte Rosa Therapeutics during the second quarter worth about $165,603,000. Jupiter Topco LLC purchased a new position in shares of Monte Rosa Therapeutics in the 2nd quarter worth about $25,965,000. Dimensional Fund Advisors LP raised its holdings in shares of Monte Rosa Therapeutics by 83.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,041,372 shares of the company’s stock worth $17,125,000 after purchasing an additional 473,005 shares during the period. Opaleye Management Inc. purchased a new position in shares of Monte Rosa Therapeutics in the 2nd quarter worth about $18,029,000. Finally, Janus Henderson Group PLC purchased a new position in shares of Monte Rosa Therapeutics in the 1st quarter worth about $11,294,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

About Monte Rosa Therapeutics

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.