Monte Rosa Therapeutics (NASDAQ:GLUE) Posts Earnings Results, Beats Expectations By $0.60 EPS

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

Monte Rosa Therapeutics Price Performance

NASDAQ:GLUE opened at $5.80 on Friday. Monte Rosa Therapeutics has a one year low of $3.21 and a one year high of $12.40. The company has a market cap of $356.33 million, a P/E ratio of -3.17 and a beta of 1.50. The firm’s fifty day moving average price is $6.18 and its two-hundred day moving average price is $6.77.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Lifesci Capital assumed coverage on shares of Monte Rosa Therapeutics in a research report on Wednesday, March 12th. They issued an “outperform” rating and a $19.00 price objective on the stock. Wedbush reaffirmed an “outperform” rating and set a $17.00 price target (up from $15.00) on shares of Monte Rosa Therapeutics in a research report on Thursday. Finally, Wells Fargo & Company dropped their price target on shares of Monte Rosa Therapeutics from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Friday.

About Monte Rosa Therapeutics

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.