Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) Expected to Announce Earnings of -$0.49 Per Share

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Equities research analysts expect Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) to post earnings per share (EPS) of ($0.49) for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Momenta Pharmaceuticals’ earnings. The lowest EPS estimate is ($0.52) and the highest is ($0.48). Momenta Pharmaceuticals posted earnings of ($0.45) per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 8.9%. The business is expected to report its next quarterly earnings results before the market opens on Thursday, October 31st.

On average, analysts expect that Momenta Pharmaceuticals will report full-year earnings of ($2.52) per share for the current fiscal year, with EPS estimates ranging from ($2.64) to ($2.10). For the next fiscal year, analysts forecast that the firm will post earnings of ($1.92) per share, with EPS estimates ranging from ($2.04) to ($1.54). Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover Momenta Pharmaceuticals.

Momenta Pharmaceuticals (NASDAQ:MNTA) last posted its quarterly earnings results on Friday, August 2nd. The biotechnology company reported ($1.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.74). Momenta Pharmaceuticals had a negative net margin of 324.41% and a negative return on equity of 55.24%. The company had revenue of $5.18 million during the quarter, compared to analysts’ expectations of $9.20 million. During the same quarter last year, the company earned ($0.91) earnings per share. Momenta Pharmaceuticals’s revenue for the quarter was down 60.2% on a year-over-year basis.

A number of research analysts recently commented on the company. BidaskClub upgraded Momenta Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, October 9th. Piper Jaffray Companies set a $35.00 price objective on Momenta Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, September 17th. HC Wainwright assumed coverage on Momenta Pharmaceuticals in a report on Wednesday, September 25th. They issued a “buy” rating and a $24.00 price objective on the stock. Finally, ValuEngine cut Momenta Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 15th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Momenta Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $22.53.

MNTA traded up $0.21 during trading hours on Tuesday, reaching $14.58. The company’s stock had a trading volume of 178,761 shares, compared to its average volume of 522,773. Momenta Pharmaceuticals has a fifty-two week low of $9.51 and a fifty-two week high of $16.11. The stock has a market cap of $1.41 billion, a PE ratio of -7.18 and a beta of 2.03. The business’s 50-day moving average is $13.42 and its 200-day moving average is $12.72.

In other Momenta Pharmaceuticals news, insider Anthony M. Manning sold 6,365 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $13.83, for a total transaction of $88,027.95. Following the transaction, the insider now directly owns 20,603 shares in the company, valued at $284,939.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Santiago Arroyo sold 6,318 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $13.83, for a total value of $87,377.94. Following the transaction, the senior vice president now owns 33,272 shares in the company, valued at $460,151.76. The disclosure for this sale can be found here. Insiders sold 22,149 shares of company stock worth $294,059 over the last quarter. 3.40% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in MNTA. Peregrine Capital Management LLC acquired a new position in Momenta Pharmaceuticals during the second quarter worth $10,025,000. BlackRock Inc. lifted its stake in Momenta Pharmaceuticals by 2.9% during the second quarter. BlackRock Inc. now owns 15,606,505 shares of the biotechnology company’s stock worth $194,302,000 after purchasing an additional 438,679 shares in the last quarter. Morgan Stanley lifted its stake in Momenta Pharmaceuticals by 709.7% during the second quarter. Morgan Stanley now owns 460,537 shares of the biotechnology company’s stock worth $5,733,000 after purchasing an additional 403,661 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of Momenta Pharmaceuticals in the second quarter valued at $4,751,000. Finally, Greencape Capital Pty Ltd acquired a new stake in shares of Momenta Pharmaceuticals in the second quarter valued at $3,365,000. Institutional investors own 96.29% of the company’s stock.

Momenta Pharmaceuticals Company Profile

Momenta Pharmaceuticals, Inc, a biotechnology company, focuses on the discovery and development of novel biologic therapies for the treatment of rare immune-mediated diseases in the United States. Its novel therapeutic programs include M281, a fully-human anti-neonatal Fc receptor (FcRn), aglycosylated immunoglobulin G (IgG1), and monoclonal antibody to reduce circulating IgG antibodies by blocking endogenous IgG recycling via FcRn; M230, a recombinant trivalent human IgG1 Fc multimer containing three IgG Fc regions joined to maximize activity; and M254, a hyper-sialylated immunoglobulin to treat various inflammatory diseases, including idiopathic thrombocytopenic purpura and chronic inflammatory demyelinating polyneuropathy.

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