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

Monte Rosa Therapeutics (NASDAQ:GLUE) announced its earnings results on Thursday. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.50, Zacks reports.

Monte Rosa Therapeutics Stock Up 2.7 %

GLUE traded up $0.18 on Thursday, hitting $6.88. 349,006 shares of the company traded hands, compared to its average volume of 916,979. The company has a 50 day moving average of $6.16 and a 200-day moving average of $6.77. The stock has a market capitalization of $422.75 million, a PE ratio of -3.68 and a beta of 1.50. Monte Rosa Therapeutics has a 12-month low of $3.21 and a 12-month high of $12.40.

Analyst Upgrades and Downgrades

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