$5.84 Million in Sales Expected for Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) This Quarter

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Wall Street brokerages expect Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) to announce sales of $5.84 million for the current quarter, Zacks reports. Five analysts have provided estimates for Momenta Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $2.00 million and the highest estimate coming in at $8.33 million. Momenta Pharmaceuticals reported sales of $5.18 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 12.7%. The firm is scheduled to issue its next earnings results on Friday, August 7th.

On average, analysts expect that Momenta Pharmaceuticals will report full-year sales of $28.02 million for the current financial year, with estimates ranging from $20.00 million to $33.96 million. For the next fiscal year, analysts forecast that the business will report sales of $32.58 million, with estimates ranging from $20.00 million to $51.25 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Momenta Pharmaceuticals.

Momenta Pharmaceuticals (NASDAQ:MNTA) last announced its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.34) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.48) by $0.14. The firm had revenue of $8.89 million during the quarter, compared to the consensus estimate of $4.08 million. Momenta Pharmaceuticals had a negative return on equity of 80.37% and a negative net margin of 994.16%.

A number of brokerages have weighed in on MNTA. Stifel Nicolaus reiterated a “buy” rating on shares of Momenta Pharmaceuticals in a research note on Wednesday, June 24th. ValuEngine upgraded Momenta Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, April 2nd. JPMorgan Chase & Co. boosted their price objective on Momenta Pharmaceuticals from $37.00 to $42.00 and gave the company an “overweight” rating in a research note on Tuesday, June 16th. Wells Fargo & Co boosted their price objective on Momenta Pharmaceuticals from $40.00 to $48.00 and gave the company an “overweight” rating in a research note on Monday, June 15th. Finally, BidaskClub upgraded Momenta Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 18th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $43.00.

NASDAQ MNTA traded down $2.66 on Thursday, reaching $33.27. The stock had a trading volume of 2,328,064 shares, compared to its average volume of 1,243,081. Momenta Pharmaceuticals has a 12-month low of $9.51 and a 12-month high of $39.88. The business’s 50-day moving average price is $33.35 and its 200 day moving average price is $28.66. The stock has a market cap of $4.36 billion, a P/E ratio of -11.88 and a beta of 1.47.

In other news, CAO Agnieszka Cieplinska sold 921 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $29.57, for a total transaction of $27,233.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Santiago Arroyo sold 1,614 shares of the stock in a transaction on Monday, April 20th. The stock was sold at an average price of $28.96, for a total value of $46,741.44. Following the completion of the transaction, the senior vice president now owns 30,720 shares of the company’s stock, valued at approximately $889,651.20. The disclosure for this sale can be found here. Insiders have sold 62,517 shares of company stock valued at $1,918,748 in the last 90 days. Company insiders own 2.60% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Magnus Financial Group LLC raised its position in Momenta Pharmaceuticals by 6.0% in the first quarter. Magnus Financial Group LLC now owns 10,703 shares of the biotechnology company’s stock worth $291,000 after acquiring an additional 608 shares in the last quarter. Amalgamated Bank raised its position in Momenta Pharmaceuticals by 3.4% in the fourth quarter. Amalgamated Bank now owns 18,956 shares of the biotechnology company’s stock worth $374,000 after acquiring an additional 625 shares in the last quarter. Mutual of America Capital Management LLC raised its position in Momenta Pharmaceuticals by 23.7% in the first quarter. Mutual of America Capital Management LLC now owns 5,018 shares of the biotechnology company’s stock worth $136,000 after acquiring an additional 963 shares in the last quarter. Ameritas Investment Partners Inc. raised its position in Momenta Pharmaceuticals by 14.2% in the first quarter. Ameritas Investment Partners Inc. now owns 9,828 shares of the biotechnology company’s stock worth $267,000 after acquiring an additional 1,224 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in Momenta Pharmaceuticals by 26.6% in the first quarter. Nisa Investment Advisors LLC now owns 6,040 shares of the biotechnology company’s stock worth $164,000 after acquiring an additional 1,270 shares in the last quarter. Hedge funds and other 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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Earnings History and Estimates for Momenta Pharmaceuticals (NASDAQ:MNTA)

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