Monte Rosa Therapeutics (NASDAQ:GLUE – Get Free Report) issued its earnings results on Thursday. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.60, Zacks reports. The company had revenue of $14.00 million for the quarter, compared to the consensus estimate of $43.73 million.
Monte Rosa Therapeutics Price Performance
GLUE opened at $7.06 on Friday. Monte Rosa Therapeutics has a fifty-two week low of $3.21 and a fifty-two week high of $12.40. The firm has a market capitalization of $433.75 million, a PE ratio of -3.86 and a beta of 1.50. The company’s 50-day moving average is $6.18 and its 200 day moving average is $6.77.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on GLUE. Wells Fargo & Company lowered shares of Monte Rosa Therapeutics from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $14.00 to $11.00 in a report on Thursday, December 19th. Wedbush reiterated an “outperform” rating and issued a $17.00 price target (up previously from $15.00) on shares of Monte Rosa Therapeutics in a report on Thursday. Finally, Lifesci Capital began coverage on Monte Rosa Therapeutics in a report on Wednesday, March 12th. They set an “outperform” rating and a $19.00 price objective for the company.
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.
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