Momenta Pharmaceuticals Inc. (MNTA) Stock Price Up 5.2%
Momenta Pharmaceuticals Inc. (NASDAQ:MNTA) rose 5.2% during trading on Wednesday . The stock traded as high as $11.52 and last traded at $11.37, with a volume of 136,280 shares trading hands. The stock had previously closed at $10.81.
MNTA has been the topic of several research reports. Zacks Investment Research upgraded Momenta Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, April 27th. Leerink Swann reaffirmed an “outperform” rating and set a $18.00 price target (down previously from $21.00) on shares of Momenta Pharmaceuticals in a research report on Wednesday, May 4th. Brean Capital reaffirmed a “buy” rating and set a $19.00 price target on shares of Momenta Pharmaceuticals in a research report on Wednesday, May 4th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Momenta Pharmaceuticals in a research report on Wednesday, May 4th. Finally, Goldman Sachs Group Inc. began coverage on Momenta Pharmaceuticals in a research report on Monday, June 6th. They set a “neutral” rating and a $14.00 price target on the stock. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $18.40.
The stock’s market cap is $766.92 million. The company’s 50-day moving average price is $11.10 and its 200 day moving average price is $10.83.
Momenta Pharmaceuticals (NASDAQ:MNTA) last announced its quarterly earnings results on Tuesday, May 3rd. The biotechnology company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by $0.03. The business earned $19.90 million during the quarter, compared to analyst estimates of $28.12 million. The business’s quarterly revenue was up 132.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.40) EPS. On average, equities research analysts predict that Momenta Pharmaceuticals Inc. will post ($1.33) earnings per share for the current year.
In other Momenta Pharmaceuticals news, President Craig A. Wheeler sold 5,880 shares of the stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $10.18, for a total value of $59,858.40. Following the transaction, the president now owns 349,521 shares in the company, valued at $3,558,123.78. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP John E. Bishop sold 2,843 shares of the stock in a transaction that occurred on Tuesday, April 19th. The stock was sold at an average price of $9.57, for a total value of $27,207.51. Following the completion of the transaction, the vice president now owns 160,880 shares in the company, valued at approximately $1,539,621.60. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently made changes to their positions in the company. Morgan Stanley raised its position in shares of Momenta Pharmaceuticals by 123.0% in the fourth quarter. Morgan Stanley now owns 69,759 shares of the biotechnology company’s stock valued at $1,035,000 after buying an additional 38,470 shares during the last quarter. Stevens Capital Management LP bought a new position in Momenta Pharmaceuticals during the fourth quarter worth $1,109,000. Rhumbline Advisers raised its position in Momenta Pharmaceuticals by 9.9% in the fourth quarter. Rhumbline Advisers now owns 75,638 shares of the biotechnology company’s stock worth $1,122,000 after buying an additional 6,835 shares in the last quarter. GSA Capital Partners LLP raised its position in Momenta Pharmaceuticals by 298.9% in the fourth quarter. GSA Capital Partners LLP now owns 88,251 shares of the biotechnology company’s stock worth $1,310,000 after buying an additional 66,130 shares in the last quarter. Finally, Swiss National Bank raised its position in Momenta Pharmaceuticals by 2.6% in the fourth quarter. Swiss National Bank now owns 91,500 shares of the biotechnology company’s stock worth $1,358,000 after buying an additional 2,300 shares in the last quarter.
Momenta Pharmaceuticals, Inc (Momenta) is a biotechnology company focused on developing generic versions of drugs, biosimilars and therapeutics for oncology and autoimmune disease. The Company has three product areas: Complex Generics, Biosimilars and Novel Therapeutics. The Company’s product, a generic version of Lovenox (enoxaparin sodium injection), was approved by the United States Food and Drug Administration.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.