Momenta Pharmaceuticals (MNTA) Posts Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Momenta Pharmaceuticals (NASDAQ:MNTA) released its quarterly earnings data on Wednesday. The biotechnology company reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.10, Morningstar.com reports. Momenta Pharmaceuticals had a negative net margin of 128.49% and a negative return on equity of 40.55%. The business had revenue of $14.88 million for the quarter, compared to analyst estimates of $16.99 million. During the same period in the previous year, the firm earned ($0.44) EPS. The business’s revenue for the quarter was down 38.2% compared to the same quarter last year.

Momenta Pharmaceuticals stock opened at $14.48 on Thursday. Momenta Pharmaceuticals has a 52 week low of $11.72 and a 52 week high of $32.20. The stock has a market capitalization of $1.13 billion, a P/E ratio of -12.07 and a beta of 2.34.

In other Momenta Pharmaceuticals news, CEO Craig A. Wheeler sold 1,773 shares of the company’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $26.06, for a total value of $46,204.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Elizabeth Stoner sold 4,152 shares of the company’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $27.33, for a total transaction of $113,474.16. Following the completion of the transaction, the director now owns 33,791 shares in the company, valued at $923,508.03. The disclosure for this sale can be found here. Insiders sold a total of 9,356 shares of company stock worth $252,705 over the last quarter. Insiders own 4.80% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in Momenta Pharmaceuticals in the 2nd quarter valued at about $108,000. Sawtooth Solutions LLC purchased a new position in Momenta Pharmaceuticals in the 3rd quarter valued at about $227,000. Pillar Pacific Capital Management LLC purchased a new position in Momenta Pharmaceuticals in the 3rd quarter valued at about $231,000. Essex Investment Management Co. LLC purchased a new position in Momenta Pharmaceuticals in the 3rd quarter valued at about $330,000. Finally, Amalgamated Bank lifted its holdings in Momenta Pharmaceuticals by 16.1% in the 2nd quarter. Amalgamated Bank now owns 12,544 shares of the biotechnology company’s stock valued at $257,000 after purchasing an additional 1,739 shares in the last quarter. Institutional investors own 95.93% of the company’s stock.

MNTA has been the topic of several recent research reports. Stifel Nicolaus reiterated a “buy” rating and issued a $40.00 price objective on shares of Momenta Pharmaceuticals in a research report on Wednesday, October 10th. BidaskClub lowered shares of Momenta Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 4th. ValuEngine lowered shares of Momenta Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 16th. Zacks Investment Research upgraded shares of Momenta Pharmaceuticals from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research report on Monday, October 15th. Finally, Cantor Fitzgerald set a $24.00 price objective on shares of Momenta Pharmaceuticals and gave the stock a “hold” rating in a research report on Wednesday, October 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $27.00.

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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 for Momenta Pharmaceuticals (NASDAQ:MNTA)

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