U.S. Markets close in 26 mins

Momenta (MNTA) Provides Pipeline Updates, Stock Rallies

Zacks Equity Research

Shares of Momenta Pharmaceuticals Inc. MNTA rallied 23.7% after it announced positive initial data from a study on M254 in immune thrombocytopenia (ITP).The multi-part study has completed Part A, which evaluated the candidate in a single ascending dose (SAD) cohort of healthy volunteers and has advanced into Part B, which will evaluate the same in a SAD cohort of ITP patients.

Interim data from the study showed that five of six patients treated with M254 responded to the treatment and exhibited platelet counts. Based on the positive early data, Momentaexpects to increase the number of patients in Part B and plans to include a lower dose cohort. The company expects to report additional data from Part B of the study, for which the enrollment is ongoing, in the second quarter of 2020.

The company also plans to commence a study of M254 in chronic inflammatory demyelinating polyneuropathy (CIDP) later in 2020.

Shares of the company have skyrocketed 129.1% in the past year against the industry’s decline of 1.8%.

The company also announced that the phase II study on nipocalimab in myasthenia gravis (gMG) is now 80% enrolled. Momenta expects to report top-line data from this study in the third quarter of 2020.

Another phase II study, Unity, on nipocalimab in hemolytic disease of the fetus and the newborn (HDFN) is actively enrolling patients. The company expects to report top-line data from this study in 2021.

Another phase II/III study of nipocalimab in warm autoimmune hemolytic anemia (wAIHA) is ongoing. Nipocalimab has been granted Fast Track and Orphan Drug designations by the FDA for this indication. The company expects to report top-line data from this study around the end of 2021.

The company also stated that it expects to initiate IND-enabling studies on CD38 SIFbody candidate in 2020.

The company had $545.1 million of cash, cash equivalents and marketable securities, as of Dec 31, 2019.

2020 Guidance

Momenta expects operating expenses for 2020 to be in the range of $220-240 million.

 

Momenta Pharmaceuticals, Inc. Price

 

Momenta Pharmaceuticals, Inc. Price

Momenta Pharmaceuticals, Inc. price | Momenta Pharmaceuticals, Inc. Quote

Zacks Rank & Stocks to Consider

Momenta is currently a Zacks Rank #3 (Hold) stock.

A few better-ranked stocks in the biotech sector are Alexion Pharmaceuticals Inc. ALXN, ASLAN Pharmaceuticals Ltd. ASLN and Celsion Corporation CLSN, all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Alexion’s earnings per share estimates have increased from $9.97 to $10.35 for 2019 and from $10.85 to $11.16 for 2020 in the past 90 days. The company delivered a positive earnings surprise in the trailing four quarters by 12.50%, on average.

ASLAN’s loss per share estimates have narrowed from 69 cents to 67 cents for 2019 and from 62 cents to 61 cents for 2020 in the past 90 days. The company delivered a positive earnings surprise in three of the trailing four quarters by 24.65%, on average.

Celsion’s loss per share estimates have narrowed from $1.00 to 94 cents for 2019 and from 77 cents to 66 cents for 2020 in the past 90 days. The company delivered a positive earnings surprise in three of the trailing four quarters by 51.11%, on average.

Today's Best Stocks from Zacks

Would you like to see the updated picks from our best market-beating strategies? From 2017 through Q3 2019, while the S&P 500 gained +39.6%, five of our strategies returned +51.8%, +57.5%, +96.9%, +119.0%, and even +158.9%. This outperformance has not just been a recent phenomenon. From 2000 – Q3 2019, while the S&P averaged +5.6% per year, our top strategies averaged up to +54.1% per year.

See their latest picks free >>


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Alexion Pharmaceuticals, Inc. (ALXN) : Free Stock Analysis Report
 
Momenta Pharmaceuticals, Inc. (MNTA) : Free Stock Analysis Report
 
Celsion Corporation (CLSN) : Free Stock Analysis Report
 
ASLAN Pharmaceuticals Ltd. (ASLN) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research