Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE) Stock Has Consensus Target Price of $26.44

Key Points

• Analyst sentiment is broadly positive: Of 12 analysts covering Monte Rosa Therapeutics, eight rate it a buy and one a strong buy; the consensus rating is “Moderate Buy.” The average 12-month price target is $26.44.
• GLUE opened at $10.57, below its $25.77 12-month high and near its $9.68 low; its 50-day and 200-day moving averages were $11.70 and $17.09, respectively.
• The company reported quarterly EPS of $0.03, beating analysts’ estimate of a $0.21 loss, and revenue of $54.37 million versus a $33.87 million estimate. It remains unprofitable, with a negative net margin of 560.85%.

Monte Rosa Therapeutics, Inc. (NASDAQ:GLUE - Get Free Report) has been given an average rating of "Moderate Buy" by the twelve analysts that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $26.44.

A number of analysts have recently issued reports on the stock. Benchmark reaffirmed a "buy" rating on shares of Monte Rosa Therapeutics in a report on Monday, October 5th. TD Cowen raised shares of Monte Rosa Therapeutics to a "strong-buy" rating in a research note on Monday, August 24th. Raymond James Financial set a $25.00 target price on shares of Monte Rosa Therapeutics in a research report on Monday, October 5th. UBS Group started coverage on shares of Monte Rosa Therapeutics in a report on Sunday, October 11th. They issued a "buy" rating and a $19.00 price objective on the stock. Finally, Wedbush reaffirmed an "outperform" rating and set a $27.00 price objective on shares of Monte Rosa Therapeutics in a research note on Wednesday, September 9th.

Monte Rosa Therapeutics Trading Up 3.1%

GLUE stock opened at $10.57 on Friday. Monte Rosa Therapeutics has a twelve month low of $9.68 and a twelve month high of $25.77. The firm has a 50 day simple moving average of $11.70 and a 200-day simple moving average of $17.09. The company has a market capitalization of $901.73 million, a P/E ratio of -7.55 and a beta of 1.40.

Monte Rosa Therapeutics (NASDAQ:GLUE - Get Free Report) last posted its earnings results on Thursday, November 5th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.21) by $0.24. Monte Rosa Therapeutics had a negative net margin of 560.85% and a negative return on equity of 43.31%. The business had revenue of $54.37 million for the quarter, compared to analyst estimates of $33.87 million. On average, research analysts predict that Monte Rosa Therapeutics will post -1.13 EPS for the current year.

Hedge Funds Weigh In On Monte Rosa Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GLUE. AlphaCentric Advisors LLC increased its stake in Monte Rosa Therapeutics by 112.0% in the 3rd quarter. AlphaCentric Advisors LLC now owns 26,802 shares of the company's stock valued at $320,000 after buying an additional 14,157 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Monte Rosa Therapeutics in the 3rd quarter worth approximately $52,000. Profund Advisors LLC increased its stake in shares of Monte Rosa Therapeutics by 7.6% during the third quarter. Profund Advisors LLC now owns 32,406 shares of the company's stock valued at $387,000 after purchasing an additional 2,295 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in Monte Rosa Therapeutics by 14.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 17,166 shares of the company's stock valued at $202,000 after acquiring an additional 2,121 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its holdings in Monte Rosa Therapeutics by 842.3% in the 3rd quarter. Sterling Capital Management LLC now owns 2,450 shares of the company's stock worth $29,000 after purchasing an additional 2,190 shares in the last quarter. Institutional investors own 79.96% of the company's stock.

About Monte Rosa Therapeutics

Monte Rosa Therapeutics, Inc is a clinical-stage biotechnology company focused on developing molecular glue degraders, a class of medicines designed to eliminate disease-causing proteins by directing them to the cell's natural protein-degradation machinery. The company's approach is intended to address targets that may be difficult to inhibit with conventional small-molecule drugs.

Monte Rosa uses its QuEEN platform to discover and optimize molecular glue degraders for diseases involving dysregulated immune responses and other biological pathways.

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