Momenta Pharmaceuticals (NASDAQ:MNTA) issued its quarterly earnings results on Tuesday. The biotechnology company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.15), Morningstar.com reports. The firm had revenue of $4.85 million for the quarter, compared to the consensus estimate of $15.63 million. Momenta Pharmaceuticals had a negative net margin of 63.43% and a negative return on equity of 23.62%. The business’s revenue for the quarter was down 81.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.46) earnings per share.
Shares of MNTA traded up $0.70 during mid-day trading on Tuesday, reaching $21.40. The company’s stock had a trading volume of 825,300 shares, compared to its average volume of 853,923. The firm has a market capitalization of $1.60 billion, a P/E ratio of -17.83 and a beta of 1.63. Momenta Pharmaceuticals has a 1 year low of $11.85 and a 1 year high of $21.75.
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A number of equities research analysts have recently commented on the company. BidaskClub downgraded Momenta Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. Stifel Nicolaus upgraded Momenta Pharmaceuticals from a “hold” rating to a “buy” rating and increased their price objective for the company from $18.00 to $21.00 in a research report on Thursday, February 22nd. Finally, ValuEngine upgraded Momenta Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $15.13.
In related news, CEO Craig A. Wheeler sold 80,770 shares of the stock in a transaction on Wednesday, May 2nd. The stock was sold at an average price of $20.86, for a total transaction of $1,684,862.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Young Kwon sold 15,089 shares of the stock in a transaction on Thursday, April 19th. The stock was sold at an average price of $20.90, for a total value of $315,360.10. Following the sale, the senior vice president now owns 147,411 shares of the company’s stock, valued at $3,080,889.90. The disclosure for this sale can be found here. Insiders sold 218,030 shares of company stock valued at $4,173,663 in the last 90 days. Corporate insiders own 4.40% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Tocqueville Asset Management L.P. grew its holdings in Momenta Pharmaceuticals by 243.6% during the 4th quarter. Tocqueville Asset Management L.P. now owns 963,784 shares of the biotechnology company’s stock worth $13,445,000 after acquiring an additional 683,296 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Momenta Pharmaceuticals by 9.3% in the 4th quarter. Renaissance Technologies LLC now owns 1,583,000 shares of the biotechnology company’s stock valued at $22,083,000 after buying an additional 134,500 shares during the period. Sectoral Asset Management Inc grew its holdings in shares of Momenta Pharmaceuticals by 34.3% in the 4th quarter. Sectoral Asset Management Inc now owns 500,298 shares of the biotechnology company’s stock valued at $6,979,000 after buying an additional 127,799 shares during the period. Arizona State Retirement System grew its holdings in shares of Momenta Pharmaceuticals by 224.8% in the 4th quarter. Arizona State Retirement System now owns 128,388 shares of the biotechnology company’s stock valued at $1,791,000 after buying an additional 88,854 shares during the period. Finally, American Century Companies Inc. acquired a new position in shares of Momenta Pharmaceuticals in the 1st quarter valued at $1,589,000. Institutional investors and hedge funds own 96.22% of the company’s stock.
Momenta Pharmaceuticals Company Profile
Momenta Pharmaceuticals, Inc, a biotechnology company, focuses on developing generic versions of complex drugs, biosimilars, and novel therapeutics for autoimmune diseases in the United States. The company's complex generics programs include Enoxaparin sodium injection, a generic version of Lovenox that is indicated for the prevention and treatment of deep vein thrombosis, as well as supports the treatment of acute coronary syndromes; GLATOPA, a generic version of once-daily COPAXONE for the treatment of patients with relapsing-remitting multiple sclerosis; and GLATOPA, a generic product candidate for three-times-weekly COPAXONE.