Monte Rosa Therapeutics (NASDAQ:GLUE) Receives New Coverage from Analysts at Credit Suisse Group

Investment analysts at Credit Suisse Group started coverage on shares of Monte Rosa Therapeutics (NASDAQ:GLUE – Get Rating) in a report issued on Thursday, The Fly reports. The firm set a “neutral” rating and a $19.00 price target on the stock. Credit Suisse Group’s target price would suggest a potential upside of 62.95% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the company. Zacks Investment Research raised Monte Rosa Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, March 17th. Wells Fargo & Company initiated coverage on Monte Rosa Therapeutics in a report on Thursday, February 10th. They issued an “equal weight” rating and a $19.00 price target for the company. Finally, Guggenheim cut their price target on Monte Rosa Therapeutics from $40.00 to $35.00 in a report on Monday, January 3rd. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $28.50.

NASDAQ GLUE opened at $11.66 on Thursday. Monte Rosa Therapeutics has a fifty-two week low of $9.82 and a fifty-two week high of $45.56. The business has a fifty day moving average of $13.34 and a 200-day moving average of $16.79.

Monte Rosa Therapeutics (NASDAQ:GLUE – Get Rating) last released its quarterly earnings results on Tuesday, March 29th. The company reported ($0.93) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.50) by ($0.43). As a group, research analysts predict that Monte Rosa Therapeutics will post -2.28 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Citigroup Inc. purchased a new position in shares of Monte Rosa Therapeutics during the 3rd quarter worth about $29,000. Royal Bank of Canada purchased a new position in shares of Monte Rosa Therapeutics during the 3rd quarter worth about $29,000. Piper Sandler & CO. purchased a new position in shares of Monte Rosa Therapeutics during the 3rd quarter worth about $51,000. Legal & General Group Plc lifted its holdings in shares of Monte Rosa Therapeutics by 206.6% during the 4th quarter. Legal & General Group Plc now owns 3,317 shares of the company’s stock worth $68,000 after acquiring an additional 2,235 shares during the period. Finally, Metropolitan Life Insurance Co NY purchased a new position in shares of Monte Rosa Therapeutics during the 3rd quarter worth about $80,000. Institutional investors and hedge funds own 72.50% of the company’s stock.

Monte Rosa Therapeutics Company Profile (Get Rating)

Monte Rosa Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel small molecule precision medicines that employ the body's natural mechanisms to selectively degrade therapeutically relevant proteins. It develops an oral molecular glue degrader for GSPT1, a translational termination factor and degron-containing protein for the treatment of Myc-driven cancers.

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