Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) – Analysts at Cantor Fitzgerald decreased their FY2020 earnings estimates for shares of Momenta Pharmaceuticals in a report issued on Tuesday, January 14th. Cantor Fitzgerald analyst B. Folkes now expects that the biotechnology company will earn ($1.87) per share for the year, down from their previous estimate of ($1.74).
Momenta Pharmaceuticals (NASDAQ:MNTA) last issued its quarterly earnings data on Thursday, October 31st. The biotechnology company reported ($0.59) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.50) by ($0.09). The business had revenue of $6.40 million during 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 company’s quarterly revenue was down 57.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.65) EPS.
Several other brokerages have also recently commented on MNTA. Wells Fargo & Co assumed coverage on shares of Momenta Pharmaceuticals in a research note on Wednesday, November 6th. They issued an “outperform” rating on the stock. ValuEngine lowered shares of Momenta Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th. JPMorgan Chase & Co. raised shares of Momenta Pharmaceuticals from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $14.00 to $30.00 in a research report on Tuesday. Stifel Nicolaus reissued a “buy” rating and issued a $29.00 price objective on shares of Momenta Pharmaceuticals in a research report on Thursday, October 24th. Finally, HC Wainwright began coverage on shares of Momenta Pharmaceuticals in a research report on Wednesday, September 25th. They issued a “buy” rating and a $24.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $26.89.
MNTA stock traded up $0.33 during mid-day trading on Friday, hitting $30.40. The company had a trading volume of 13,396 shares, compared to its average volume of 1,849,901. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of -14.89 and a beta of 2.11. Momenta Pharmaceuticals has a 12-month low of $9.51 and a 12-month high of $31.90. The company has a 50-day moving average price of $19.09 and a 200 day moving average price of $14.62.
In related news, SVP Santiago Arroyo sold 26,954 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $15.91, for a total transaction of $428,838.14. Following the sale, the senior vice president now owns 109,864 shares in the company, valued at $1,747,936.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Alejandra Carvajal sold 6,814 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $14.40, for a total transaction of $98,121.60. Following the sale, the insider now owns 5,015 shares in the company, valued at approximately $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. 3.40% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. boosted its position in shares of Momenta Pharmaceuticals by 1,147.0% in the third quarter. Point72 Asset Management L.P. now owns 2,581,229 shares of the biotechnology company’s stock worth $33,453,000 after acquiring an additional 2,374,229 shares during the last quarter. Great Point Partners LLC grew its position in Momenta Pharmaceuticals by 192.3% during the 3rd quarter. Great Point Partners LLC now owns 1,000,000 shares of the biotechnology company’s stock worth $12,960,000 after acquiring an additional 657,936 shares during the last quarter. BlackRock Inc. grew its position in Momenta Pharmaceuticals by 2.9% during the 2nd quarter. BlackRock Inc. now owns 15,606,505 shares of the biotechnology company’s stock worth $194,302,000 after acquiring an additional 438,679 shares during the last quarter. Morgan Stanley grew its position in Momenta Pharmaceuticals by 709.7% during the 2nd quarter. Morgan Stanley now owns 460,537 shares of the biotechnology company’s stock worth $5,733,000 after acquiring an additional 403,661 shares during the last quarter. Finally, Nuveen Asset Management LLC bought a new stake in Momenta Pharmaceuticals during the 2nd quarter worth $4,751,000. Institutional investors own 96.94% 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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