Zacks: Brokerages Expect Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) to Announce -$0.42 EPS

Brokerages predict that Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) will report earnings per share of ($0.42) for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Momenta Pharmaceuticals’ earnings. The highest EPS estimate is ($0.38) and the lowest is ($0.49). Momenta Pharmaceuticals reported earnings per share of ($0.91) in the same quarter last year, which would suggest a positive year-over-year growth rate of 53.8%. The firm is expected to announce its next quarterly earnings results on Thursday, August 8th.

According to Zacks, analysts expect that Momenta Pharmaceuticals will report full-year earnings of ($1.79) per share for the current financial year, with EPS estimates ranging from ($2.10) to ($1.53). For the next year, analysts forecast that the business will report earnings of ($1.64) per share, with EPS estimates ranging from ($2.10) to ($1.35). Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Momenta Pharmaceuticals.

Momenta Pharmaceuticals (NASDAQ:MNTA) last posted its earnings results on Thursday, May 2nd. The biotechnology company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.01). Momenta Pharmaceuticals had a negative net margin of 231.49% and a negative return on equity of 43.98%. The firm had revenue of $4.11 million during the quarter, compared to analyst estimates of $10.12 million. During the same period in the previous year, the company posted ($0.63) EPS. Momenta Pharmaceuticals’s revenue for the quarter was down 15.3% compared to the same quarter last year.

Several equities analysts have recently commented on MNTA shares. BidaskClub downgraded Momenta Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, May 30th. Zacks Investment Research raised Momenta Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $17.00 target price on the stock in a research report on Saturday, April 27th. BTIG Research started coverage on Momenta Pharmaceuticals in a research report on Monday, March 18th. They issued a “neutral” rating and a $14.15 target price on the stock. Finally, Cantor Fitzgerald set a $16.00 target price on Momenta Pharmaceuticals and gave the company a “hold” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Momenta Pharmaceuticals has an average rating of “Hold” and a consensus target price of $22.23.

In related news, CEO Craig A. Wheeler sold 2,778 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $13.72, for a total transaction of $38,114.16. Following the sale, the chief executive officer now owns 23,330 shares of the company’s stock, valued at $320,087.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Anthony M. Manning sold 39,433 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $13.00, for a total value of $512,629.00. Following the sale, the insider now directly owns 6,980 shares in the company, valued at approximately $90,740. The disclosure for this sale can be found here. Insiders have sold 76,066 shares of company stock worth $1,053,171 in the last three months. 3.40% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of MNTA. Quantamental Technologies LLC acquired a new stake in Momenta Pharmaceuticals during the first quarter worth approximately $68,000. Marshall Wace North America L.P. bought a new stake in Momenta Pharmaceuticals during the first quarter worth $130,000. Amalgamated Bank bought a new stake in Momenta Pharmaceuticals during the fourth quarter worth $136,000. Everence Capital Management Inc. bought a new stake in Momenta Pharmaceuticals during the first quarter worth $214,000. Finally, Tibra Equities Europe Ltd bought a new stake in Momenta Pharmaceuticals during the fourth quarter worth $226,000. 97.43% of the stock is currently owned by institutional investors and hedge funds.

Momenta Pharmaceuticals stock opened at $12.09 on Friday. Momenta Pharmaceuticals has a 12 month low of $9.55 and a 12 month high of $32.20. The company has a 50 day moving average price of $12.60.

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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