Momenta Pharmaceuticals (MNTA) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

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Momenta Pharmaceuticals (NASDAQ:MNTA) posted its quarterly earnings results on Thursday. The biotechnology company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.01), MarketWatch Earnings reports. Momenta Pharmaceuticals had a negative net margin of 232.92% and a negative return on equity of 47.74%. The company had revenue of $4.11 million for the quarter, compared to analysts’ expectations of $10.12 million. During the same quarter in the prior year, the firm earned ($0.63) earnings per share. The company’s revenue was down 15.3% on a year-over-year basis.

NASDAQ:MNTA traded up $0.53 during trading hours on Friday, reaching $14.57. The company’s stock had a trading volume of 517,367 shares, compared to its average volume of 578,935. The stock has a market capitalization of $1.38 billion, a PE ratio of -7.18 and a beta of 2.18. Momenta Pharmaceuticals has a one year low of $9.55 and a one year high of $32.20.

In related news, SVP Santiago Arroyo sold 2,531 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $15.00, for a total value of $37,965.00. Following the completion of the sale, the senior vice president now directly owns 19,272 shares in the company, valued at $289,080. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jo Ann Beltramello sold 13,672 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $15.00, for a total transaction of $205,080.00. Following the completion of the sale, the insider now owns 68,494 shares of the company’s stock, valued at $1,027,410. The disclosure for this sale can be found here. Insiders sold 112,596 shares of company stock valued at $1,585,764 over the last quarter. 3.70% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of MNTA. Bank of New York Mellon Corp boosted its holdings in Momenta Pharmaceuticals by 3.2% in the third quarter. Bank of New York Mellon Corp now owns 894,031 shares of the biotechnology company’s stock worth $23,513,000 after purchasing an additional 27,708 shares in the last quarter. MetLife Investment Advisors LLC lifted its position in Momenta Pharmaceuticals by 55.2% during the 3rd quarter. MetLife Investment Advisors LLC now owns 55,347 shares of the biotechnology company’s stock worth $1,456,000 after acquiring an additional 19,674 shares during the last quarter. Legal & General Group Plc lifted its position in Momenta Pharmaceuticals by 7.8% during the 3rd quarter. Legal & General Group Plc now owns 183,105 shares of the biotechnology company’s stock worth $4,719,000 after acquiring an additional 13,239 shares during the last quarter. Morgan Stanley lifted its position in Momenta Pharmaceuticals by 18.2% during the 3rd quarter. Morgan Stanley now owns 247,040 shares of the biotechnology company’s stock worth $6,497,000 after acquiring an additional 37,970 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Momenta Pharmaceuticals by 3.8% during the 3rd quarter. Vanguard Group Inc. now owns 7,597,950 shares of the biotechnology company’s stock worth $199,827,000 after acquiring an additional 280,177 shares during the last quarter. Hedge funds and other institutional investors own 96.82% of the company’s stock.

Several research firms have recently commented on MNTA. Cantor Fitzgerald restated a “hold” rating and set a $16.00 price target on shares of Momenta Pharmaceuticals in a report on Friday, February 22nd. Stifel Nicolaus reiterated a “buy” rating and issued a $29.00 price objective on shares of Momenta Pharmaceuticals in a report on Friday, February 22nd. Zacks Investment Research upgraded shares of Momenta Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $17.00 price objective for the company in a report on Saturday, April 27th. BTIG Research initiated coverage on shares of Momenta Pharmaceuticals in a report on Monday, March 18th. They issued a “neutral” rating and a $14.15 price objective for the company. Finally, BidaskClub upgraded shares of Momenta Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, March 29th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $22.23.

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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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Earnings History for Momenta Pharmaceuticals (NASDAQ:MNTA)

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