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%.

A number of research analysts have recently commented on the stock. Piper Sandler restated a “buy” rating and issued a $45.00 price target on shares of Momenta Pharmaceuticals in a report on Monday, June 15th. SunTrust Banks upgraded shares of Momenta Pharmaceuticals to a “buy” rating in a report on Thursday, June 18th. JPMorgan Chase & Co. increased their target price on shares of Momenta Pharmaceuticals from $37.00 to $42.00 and gave the stock an “overweight” rating in a report on Tuesday, June 16th. Stifel Nicolaus reiterated a “buy” rating on shares of Momenta Pharmaceuticals in a report on Wednesday, June 24th. Finally, Goldman Sachs Group assumed coverage on shares of Momenta Pharmaceuticals in a report on Thursday, March 12th. They set a “neutral” rating and a $29.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Momenta Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $43.00.

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.

Read More: Quick Ratio

Get a free copy of the Zacks research report on Momenta Pharmaceuticals (MNTA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Momenta Pharmaceuticals (NASDAQ:MNTA)

Receive News & Ratings for Momenta Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Momenta Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.