Momenta Pharmaceuticals (MNTA) Releases Earnings Results, Beats Expectations By $0.02 EPS

Momenta Pharmaceuticals (MNTA) reported quarterly earnings results on Thursday, Aug-4-2016. The company said it had a profit of $-0.31 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $-0.33. The company posted revenue of $26.40 million in the period, compared to analysts expectations of $21.93 million. The company’s revenue was down -41.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.04 EPS.

Many Wall Street Analysts have commented on Momenta Pharmaceuticals. Goldman Initiated Momenta Pharmaceuticals on Jun 6, 2016 to “Neutral”, Price Target of the shares are set at $14.

Momenta Pharmaceuticals opened for trading at $11.29 and hit $11.53 on the upside on Tusday, eventually ending the session at $11.45, with a gain of 0.97% or 0.11 points. The heightened volatility saw the trading volume jump to 3,95,154 shares. Company has a market cap of $796 M.

In a different news, on Jun 8, 2016, Bennett M Shapiro (director) sold 5,200 shares at $13.00 per share price. According to the SEC, on May 23, 2016, Craig A Wheeler (President) sold 5,880 shares at $10.18 per share price. On May 23, 2016, Bruce Leicher (SVP & General Counsel) sold 1,000 shares at $10.40 per share price, according to the Form-4 filing with the securities and exchange commission.

Momenta Pharmaceuticals Inc. (Momenta) is a biotechnology company focused on developing generic versions of drugs biosimilars and therapeutics for oncology and autoimmune disease. The Company has three product areas: Complex Generics Biosimilars and Novel Therapeutics. The Company’s product a generic version of Lovenox (enoxaparin sodium injection) was approved by the United States Food and Drug Administration. The Company is developing Complex Generics such as Enoxaparin Sodium Injection and M356. The Company is developing Bosimilars including M923 and M834. The Company is developing Novel Therapeutics including Necuparanib. The Company is developing M356 as a generic version of Copaxone. The Company is developing M923 a biosimilar of HUMIRA. The Company is developing M834 as a biosimilar of ORENCIA.

Momenta Pharmaceuticals

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