MNTA doesn't have any earnings - trailing earnings for the last 12 months is -$60 million - so it wouldnt come up on any screeners. It's also impossible to really say how much earnings will be and more importantly for how long as competition MAY come in or you get margins coming down from the lowering of lovenox prices to fight the cheaper generic and recover some of the share it's goign to lose initially to MNTA.
How much "discount" will really depend on how likely or unlikely TEVA approval is PERCEIVED to be by the market. I am sure there will be days where people will swear it will happen any day and there will be events that make investors think it could be years away. Handicapping the likelyhood and timing and how much $$$ will need to be added to or removed from models will be the real catalyst for analysts and investors raising or lowering price expectations.
When it comes right down to it - all opinions are only guesses - while some may be more educated or informed then others - they are all guesses just the same.
FORWARD PE requires there to be some earnings in the future - it's not that simple for MNTA because at some point their revenue stream can potentially grind to a halt due to a few factors - the most important being TEVA or other competitors.
P/E is a difficult metric to apply at this stage of MNTA’s development, where net income is apt to be ramping steeply and is affected by such transient considerations as the reimbursement of NVS’ development costs and the use of NOL’s to shield MNTA’s net income from taxation.
An alternative approach to valuation is to try to ascertain what MNTA would be worth in a buyout. The table in #msg-54153359 provides many data points to use as comparators.
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