It has been about a month since the last earnings report for Momenta Pharmaceuticals . Shares have lost about 0.6% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Momenta due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
Momenta’s Q1 Sales Beat
Momenta reported a loss of 34 cents per share in the quarter, narrower than the Zacks Consensus Estimate of a loss of 49 cents and the year-ago quarter’s loss of 46 cents.
Revenues in the quarter came in at $8.9 million, up from the year-ago quarter’s $4.1 million. The figure beat the Zacks Consensus Estimate of $4 million.
Quarter in Detail
Momenta’s top line comprises product revenues of $8.7 million from Sandoz’s sales of Glatopa, a generic version of Copaxone (20 mg), which increased from $2.4 million in the year-ago quarter.
Research and development revenues came in at $0.2 million compared with the year-ago quarter’s $1.8 million.
Research and development expenses came in at $34.2 million, flaring up from the $28 million incurred in the year-ago quarter, due to a rise in manufacturing and clinical trial costs for nipocalimab and M254 and and increased spending on M710.
General and administrative expenses came in at $14.6 million, down from $24.2 million.
2020 Financial Guidance
Due to lower clinical trial enrollment trends as a result of the COVID-19 pandemic, Momenta anticipates its operating expenses will be lower than $220 - $240 million, as previously guided for 2020.
How Have Estimates Been Moving Since Then?
It turns out, estimates review have trended upward during the past month. The consensus estimate has shifted 15.87% due to these changes.
VGM Scores
Currently, Momenta has a poor Growth Score of F, however its Momentum Score is doing a lot better with an A. However, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been trending upward for the stock, and the magnitude of this revision looks promising. It comes with little surprise Momenta has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.
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Why Is Momenta (MNTA) Down 0.6% Since Last Earnings Report?
It has been about a month since the last earnings report for Momenta Pharmaceuticals . Shares have lost about 0.6% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Momenta due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts.
Momenta’s Q1 Sales Beat
Momenta reported a loss of 34 cents per share in the quarter, narrower than the Zacks Consensus Estimate of a loss of 49 cents and the year-ago quarter’s loss of 46 cents.
Revenues in the quarter came in at $8.9 million, up from the year-ago quarter’s $4.1 million. The figure beat the Zacks Consensus Estimate of $4 million.
Quarter in Detail
Momenta’s top line comprises product revenues of $8.7 million from Sandoz’s sales of Glatopa, a generic version of Copaxone (20 mg), which increased from $2.4 million in the year-ago quarter.
Research and development revenues came in at $0.2 million compared with the year-ago quarter’s $1.8 million.
Research and development expenses came in at $34.2 million, flaring up from the $28 million incurred in the year-ago quarter, due to a rise in manufacturing and clinical trial costs for nipocalimab and M254 and and increased spending on M710.
General and administrative expenses came in at $14.6 million, down from $24.2 million.
2020 Financial Guidance
Due to lower clinical trial enrollment trends as a result of the COVID-19 pandemic, Momenta anticipates its operating expenses will be lower than $220 - $240 million, as previously guided for 2020.
How Have Estimates Been Moving Since Then?
It turns out, estimates review have trended upward during the past month. The consensus estimate has shifted 15.87% due to these changes.
VGM Scores
Currently, Momenta has a poor Growth Score of F, however its Momentum Score is doing a lot better with an A. However, the stock was allocated a grade of D on the value side, putting it in the bottom 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been trending upward for the stock, and the magnitude of this revision looks promising. It comes with little surprise Momenta has a Zacks Rank #2 (Buy). We expect an above average return from the stock in the next few months.