Momenta Pharmaceuticals Earnings: Here’s Why Shares are Down Now

Momenta Pharmaceuticals Inc. (NASDAQ:MNTA) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 1.25%.

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Momenta Pharmaceuticals Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased to $-0.48 in the quarter versus EPS of $-0.10 in the year-earlier quarter.

Revenue: Decreased 68.63% to $7.6 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Momenta Pharmaceuticals Inc. reported adjusted EPS loss of $0.48 per share. By that measure, the company missed the mean analyst estimate of $-0.44. It missed the average revenue estimate of $9.69 million.

Quoting Management: “During the first quarter of 2013, we continued to aggressively pursue the advancement of our programs and achievement of our corporate objectives for the year,” said Craig A. Wheeler, President and Chief Executive Officer of Momenta Pharmaceuticals. “We remain in a strong financial position as we deploy our resources to secure approval of the ANDA for generic Copaxone, develop three products in our biosimilar collaboration with Baxter, develop our novel oncology product M402, and advance our research in our sialylation technology research program. We continue to work with regulators to navigate the evolving biosimilars pathway, and to tailor our innovative technology to develop important biosimilars and potentially interchangeable biologics.”

Key Stats (on next page)…

Revenue decreased 40.3% from $12.73 million in the previous quarter. EPS decreased to $-0.48 in the quarter versus EPS of $-0.35 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a loss of $0.42 to a loss $0.45. For the current year, the average estimate has moved up from a loss of $1.87 to a loss of $1.79 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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