Monte Rosa Therapeutics (NASDAQ:GLUE) Releases Quarterly Earnings Results, Beats Expectations By $0.50 EPS

Monte Rosa Therapeutics (NASDAQ:GLUE) announced its quarterly earnings data on Thursday. The company reported $0.23 EPS for the quarter, topping the consensus estimate of ($0.27) by $0.50, Zacks reports.

Monte Rosa Therapeutics Stock Up 2.7 %

NASDAQ:GLUE traded up $0.18 during trading hours on Thursday, hitting $6.88. 397,916 shares of the company traded hands, compared to its average volume of 917,139. The firm’s 50-day simple moving average is $6.16 and its 200-day simple moving average is $6.77. 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 $422.93 million, a PE ratio of -3.79 and a beta of 1.50.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GLUE. Lifesci Capital began coverage on Monte Rosa Therapeutics in a report on Wednesday, March 12th. They issued an “outperform” rating and a $19.00 target price on the stock. Wells Fargo & Company cut Monte Rosa Therapeutics from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $14.00 to $11.00 in a report on Thursday, December 19th.

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.