Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) – Analysts at SunTrust Banks cut their FY2019 earnings estimates for shares of Momenta Pharmaceuticals in a note issued to investors on Tuesday, January 14th. SunTrust Banks analyst R. Karnauskas now forecasts that the biotechnology company will post earnings of ($2.54) per share for the year, down from their previous forecast of ($2.53). SunTrust Banks has a “Buy” rating and a $50.00 price target on the stock. SunTrust Banks also issued estimates for Momenta Pharmaceuticals’ Q4 2019 earnings at ($0.48) EPS, FY2020 earnings at ($1.94) EPS, FY2021 earnings at ($1.65) EPS, FY2022 earnings at ($1.85) EPS and FY2023 earnings at ($1.28) EPS.
Momenta Pharmaceuticals (NASDAQ:MNTA) last posted its quarterly earnings data on Thursday, October 31st. The biotechnology company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.50) by ($0.09). The firm had revenue of $6.40 million for the quarter, compared to analysts’ expectations of $5.24 million. Momenta Pharmaceuticals had a negative return on equity of 59.82% and a negative net margin of 361.66%. The firm’s quarterly revenue was down 57.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.65) earnings per share.
NASDAQ:MNTA opened at $30.07 on Friday. Momenta Pharmaceuticals has a 1-year low of $9.51 and a 1-year high of $31.90. The company has a 50-day moving average of $19.09 and a 200 day moving average of $14.62. The firm has a market cap of $2.51 billion, a PE ratio of -14.81 and a beta of 2.11.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Algert Global LLC purchased a new stake in shares of Momenta Pharmaceuticals in the second quarter valued at $143,000. Bank of Montreal Can raised its holdings in shares of Momenta Pharmaceuticals by 298.3% during the second quarter. Bank of Montreal Can now owns 11,771 shares of the biotechnology company’s stock worth $146,000 after acquiring an additional 8,816 shares in the last quarter. A.R.T. Advisors LLC purchased a new stake in shares of Momenta Pharmaceuticals during the second quarter worth $365,000. Metropolitan Life Insurance Co NY raised its holdings in shares of Momenta Pharmaceuticals by 1.9% during the third quarter. Metropolitan Life Insurance Co NY now owns 32,021 shares of the biotechnology company’s stock worth $415,000 after acquiring an additional 596 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Momenta Pharmaceuticals during the second quarter worth $693,000. 96.94% of the stock is owned by hedge funds and other institutional investors.
In related news, SVP Santiago Arroyo sold 26,954 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $15.91, for a total value of $428,838.14. Following the completion of the transaction, the senior vice president now directly owns 109,864 shares of the company’s stock, valued at approximately $1,747,936.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Alejandra Carvajal sold 6,814 shares of the stock in a transaction on Monday, October 21st. The shares were sold at an average price of $14.40, for a total value of $98,121.60. Following the completion of the transaction, the insider now directly owns 5,015 shares of the company’s stock, valued at $72,216. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 287,681 shares of company stock worth $5,612,418. Corporate insiders own 3.40% of the company’s stock.
About Momenta Pharmaceuticals
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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