Equities research analysts expect Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) to post $5.84 million in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Momenta Pharmaceuticals’ earnings. The highest sales estimate is $8.33 million and the lowest is $2.00 million. Momenta Pharmaceuticals reported sales of $5.18 million in the same quarter last year, which indicates a positive year over year growth rate of 12.7%. The company is scheduled to announce its next earnings results on Friday, August 7th.
According to Zacks, 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 expect 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 sell-side analysts that cover Momenta Pharmaceuticals.
Momenta Pharmaceuticals (NASDAQ:MNTA) last posted its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.34) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.48) by $0.14. The firm had revenue of $8.89 million for the quarter, compared to analysts’ expectations of $4.08 million. Momenta Pharmaceuticals had a negative net margin of 994.16% and a negative return on equity of 80.37%.
In related news, CAO Agnieszka Cieplinska sold 921 shares of the stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $29.57, for a total value of $27,233.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Santiago Arroyo sold 1,614 shares of the stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $28.96, for a total transaction of $46,741.44. Following the completion of the transaction, the senior vice president now directly owns 30,720 shares of the company’s stock, valued at $889,651.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,517 shares of company stock valued at $1,918,748. Insiders own 2.60% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. State Street Corp raised its position in shares of Momenta Pharmaceuticals by 14.8% in the 1st quarter. State Street Corp now owns 4,393,952 shares of the biotechnology company’s stock valued at $119,515,000 after purchasing an additional 566,369 shares during the last quarter. Avidity Partners Management LP raised its position in shares of Momenta Pharmaceuticals by 290.0% in the 1st quarter. Avidity Partners Management LP now owns 780,000 shares of the biotechnology company’s stock valued at $21,216,000 after purchasing an additional 580,000 shares during the last quarter. Royal Bank of Canada raised its position in shares of Momenta Pharmaceuticals by 269.6% in the 1st quarter. Royal Bank of Canada now owns 40,649 shares of the biotechnology company’s stock valued at $1,106,000 after purchasing an additional 29,651 shares during the last quarter. State of Tennessee Treasury Department raised its position in shares of Momenta Pharmaceuticals by 15.2% in the 1st quarter. State of Tennessee Treasury Department now owns 72,302 shares of the biotechnology company’s stock valued at $1,967,000 after purchasing an additional 9,519 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado raised its position in shares of Momenta Pharmaceuticals by 10.1% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 17,411 shares of the biotechnology company’s stock valued at $474,000 after purchasing an additional 1,600 shares during the last quarter. 96.29% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ MNTA traded down $2.66 during mid-day trading on Thursday, reaching $33.27. The company had a trading volume of 2,328,064 shares, compared to its average volume of 1,243,081. The business’s 50-day moving average is $33.35 and its 200-day moving average is $28.66. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of -11.88 and a beta of 1.47. Momenta Pharmaceuticals has a 52 week low of $9.51 and a 52 week high of $39.88.
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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