Momenta Pharmaceuticals, Inc. (MNTA) Expected to Post Quarterly Sales of $21.15 Million

Wall Street analysts expect Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) to post sales of $21.15 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Momenta Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $16.30 million and the highest estimate coming in at $26.00 million. Momenta Pharmaceuticals reported sales of $64.61 million during the same quarter last year, which indicates a negative year over year growth rate of 67.3%. The firm is scheduled to announce its next earnings results on Wednesday, February 20th.

On average, analysts expect that Momenta Pharmaceuticals will report full year sales of $54.00 million for the current year, with estimates ranging from $49.00 million to $59.00 million. For the next fiscal year, analysts anticipate that the firm will report sales of $64.15 million, with estimates ranging from $53.30 million to $75.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Momenta Pharmaceuticals.

Momenta Pharmaceuticals (NASDAQ:MNTA) last announced its earnings results on Wednesday, November 7th. The biotechnology company reported ($0.45) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.63) by $0.18. The company had revenue of $14.88 million during the quarter, compared to analysts’ expectations of $16.99 million. Momenta Pharmaceuticals had a negative net margin of 158.21% and a negative return on equity of 44.72%. Momenta Pharmaceuticals’s quarterly revenue was down 38.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.44) earnings per share.

Several analysts recently commented on the company. Cantor Fitzgerald set a $24.00 target price on Momenta Pharmaceuticals and gave the company a “hold” rating in a report on Monday, October 1st. BidaskClub cut Momenta Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 4th. Stifel Nicolaus restated a “buy” rating and set a $40.00 price target on shares of Momenta Pharmaceuticals in a report on Wednesday, October 10th. Zacks Investment Research upgraded Momenta Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Monday, October 8th. Finally, ValuEngine cut Momenta Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Momenta Pharmaceuticals currently has an average rating of “Hold” and a consensus target price of $25.75.

NASDAQ MNTA traded up $0.40 during trading on Wednesday, hitting $12.16. 568,353 shares of the company’s stock were exchanged, compared to its average volume of 717,422. The company has a market cap of $1.16 billion, a price-to-earnings ratio of -10.13 and a beta of 2.06. Momenta Pharmaceuticals has a fifty-two week low of $9.55 and a fifty-two week high of $32.20.

In other news, CEO Craig A. Wheeler sold 4,374 shares of the stock in a transaction on Monday, November 12th. The stock was sold at an average price of $13.50, for a total transaction of $59,049.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 8,136 shares of company stock valued at $106,026 in the last quarter. 3.70% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Louisiana State Employees Retirement System raised its holdings in shares of Momenta Pharmaceuticals by 4.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 36,004 shares of the biotechnology company’s stock valued at $397,000 after buying an additional 1,504 shares in the last quarter. MetLife Investment Advisors LLC increased its stake in Momenta Pharmaceuticals by 10.7% in the 2nd quarter. MetLife Investment Advisors LLC now owns 35,673 shares of the biotechnology company’s stock worth $730,000 after purchasing an additional 3,455 shares during the period. SG Americas Securities LLC purchased a new position in Momenta Pharmaceuticals in the 2nd quarter worth approximately $108,000. State of Alaska Department of Revenue increased its stake in Momenta Pharmaceuticals by 25.6% in the 4th quarter. State of Alaska Department of Revenue now owns 32,101 shares of the biotechnology company’s stock worth $354,000 after purchasing an additional 6,547 shares during the period. Finally, Sawtooth Solutions LLC purchased a new position in Momenta Pharmaceuticals in the 3rd quarter worth approximately $227,000. Institutional investors and hedge funds own 76.34% of the company’s stock.

Momenta Pharmaceuticals Company Profile

Momenta Pharmaceuticals, Inc, a biotechnology company, focuses on developing generic versions of complex drugs, biosimilars, and novel therapeutics for autoimmune diseases in the United States. The company's complex generics programs include Enoxaparin sodium injection, a generic version of Lovenox that is indicated for the prevention and treatment of deep vein thrombosis, as well as supports the treatment of acute coronary syndromes; GLATOPA, a generic version of once-daily COPAXONE for the treatment of patients with relapsing-remitting multiple sclerosis; and GLATOPA, a generic product candidate for three-times-weekly COPAXONE.

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Earnings History and Estimates for Momenta Pharmaceuticals (NASDAQ:MNTA)

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