Momenta Pharmaceuticals (NASDAQ:MNTA) issued its quarterly earnings data on Wednesday. The biotechnology company reported ($0.45) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.10, Morningstar.com reports. The business had revenue of $14.88 million during the quarter, compared to the consensus estimate of $16.99 million. Momenta Pharmaceuticals had a negative net margin of 128.49% and a negative return on equity of 40.55%. The company’s revenue was down 38.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.44) EPS.
MNTA stock opened at $14.48 on Thursday. Momenta Pharmaceuticals has a 12 month low of $11.72 and a 12 month high of $32.20. The firm has a market capitalization of $1.13 billion, a P/E ratio of -12.07 and a beta of 2.34.
In related news, Director Elizabeth Stoner sold 4,152 shares of the company’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $27.33, for a total value of $113,474.16. Following the completion of the sale, the director now owns 33,791 shares in the company, valued at approximately $923,508.03. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Craig A. Wheeler sold 1,773 shares of the company’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $26.06, for a total transaction of $46,204.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,356 shares of company stock valued at $252,705. 4.80% of the stock is owned by insiders.
Several analysts have recently weighed in on the stock. Stifel Nicolaus set a $39.00 price objective on shares of Momenta Pharmaceuticals and gave the stock a “buy” rating in a research report on Wednesday. Cantor Fitzgerald set a $16.00 price objective on shares of Momenta Pharmaceuticals and gave the stock a “hold” rating in a research report on Wednesday. BidaskClub downgraded shares of Momenta Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, October 18th. ValuEngine upgraded shares of Momenta Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Finally, Zacks Investment Research upgraded shares of Momenta Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, August 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $27.00.
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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.
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