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Earnings Estimates Moving Higher for Momenta Pharmaceuticals (MNTA): Time to Buy?

Zacks Equity Research

Momenta Pharmaceuticals Inc. (MNTA) is a Massachusetts based biotechnology company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on MNTA’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Momenta Pharmaceuticals could be a solid choice for investors.

Current Quarter Estimates for MNTA

In the past 30 days, no estimates were revised for Momenta Pharmaceuticals. However, the consensus estimate trend has been pretty favorable, with estimates narrowing from loss of 27 cents 30 days ago, to loss of 14 cents today, a move of 48.1%.

Current Year Estimates for MNTA

Also no estimates have been revised for Momenta Pharmaceuticals in the current year for the past month.  The loss estimate trend has seen a boost for this time frame, narrowing down from 71 cents per share 30 days ago to 29 cents per share today, an improvement of 59.2%.

Bottom Line

The stock has also started to move higher lately, adding 11.15% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.

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