Momenta Pharmaceuticals, Inc. (MNTA) Announces Earnings Results, Beats Expectations By $0.03 EPS
Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) announced its quarterly earnings results on Tuesday. The biotechnology company reported ($0.44) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.47) by $0.03, Bloomberg Earnings reports. The company had revenue of $24.09 million for the quarter, compared to analyst estimates of $29.58 million. Momenta Pharmaceuticals had a negative net margin of 39.35% and a negative return on equity of 12.28%. Momenta Pharmaceuticals’s revenue for the quarter was down 17.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.26) EPS.
Momenta Pharmaceuticals (MNTA) traded down 10.64% during trading on Wednesday, hitting $12.60. 845,216 shares of the company traded hands. Momenta Pharmaceuticals has a one year low of $10.75 and a one year high of $19.90. The firm’s market cap is $933.11 million. The firm has a 50 day moving average of $15.45 and a 200 day moving average of $15.84.
A number of equities analysts have weighed in on MNTA shares. Stifel Nicolaus reiterated a “hold” rating and issued a $15.00 price target (down previously from $22.00) on shares of Momenta Pharmaceuticals in a report on Wednesday, October 4th. Zacks Investment Research lowered shares of Momenta Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. BidaskClub lowered shares of Momenta Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Barclays PLC reiterated an “equal weight” rating and issued a $16.00 price target (down previously from $17.00) on shares of Momenta Pharmaceuticals in a report on Wednesday, October 4th. Finally, Maxim Group set a $6.00 price target on shares of Momenta Pharmaceuticals and gave the company a “sell” rating in a report on Thursday, August 3rd. Three research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $15.00.
About Momenta Pharmaceuticals
Momenta Pharmaceuticals, Inc is a biotechnology company. The Company is focused on developing generic versions of drugs, biosimilars and therapeutics for oncology and autoimmune disease. The Company has developed generic version of LOVENOX (enoxaparin sodium injection) and COPAXONE (glatiramer acetate injection).
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