Monte Rosa Therapeutics (NASDAQ:GLUE) Releases Earnings Results

Monte Rosa Therapeutics (NASDAQ:GLUE) announced its earnings results on Thursday. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.60, Zacks reports. The company had revenue of $14.00 million during the quarter, compared to the consensus estimate of $43.73 million.

Monte Rosa Therapeutics Stock Performance

Shares of NASDAQ GLUE opened at $5.80 on Friday. Monte Rosa Therapeutics has a 52-week low of $3.21 and a 52-week high of $12.40. The firm has a 50 day moving average price of $6.18 and a 200 day moving average price of $6.77. The stock has a market cap of $356.33 million, a P/E ratio of -3.17 and a beta of 1.50.

Wall Street Analyst Weigh In

GLUE has been the subject of several analyst reports. Lifesci Capital initiated coverage on shares of Monte Rosa Therapeutics in a research report on Wednesday, March 12th. They set an “outperform” rating and a $19.00 price target for the company. Wedbush restated an “outperform” rating and set a $17.00 price objective (up previously from $15.00) on shares of Monte Rosa Therapeutics in a report on Thursday. Finally, Wells Fargo & Company decreased their price objective on shares of Monte Rosa Therapeutics from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Friday.

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.