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

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

Monte Rosa Therapeutics Stock Performance

Shares of GLUE stock 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 1,514,031. The firm’s 50-day moving average is $11.70 and its 200 day moving average is $17.09. Monte Rosa Therapeutics has a 1 year low of $9.68 and a 1 year high of $25.77.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GLUE shares. Zacks Research upgraded shares of Monte Rosa Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. TD Cowen upgraded shares of Monte Rosa Therapeutics to a “strong-buy” rating in a research note on Monday, August 24th. Wedbush restated an “outperform” rating and issued a $27.00 target price on shares of Monte Rosa Therapeutics in a research note on Wednesday, September 9th. UBS Group assumed coverage on Monte Rosa Therapeutics in a research report on Sunday, October 11th. They set a “buy” rating and a $19.00 price target on the stock. Finally, Weiss Ratings downgraded Monte Rosa Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.