Momenta Pharmaceuticals Inc. (NASDAQ:MNTA)’s share price dropped 5% during mid-day trading on Thursday . The company traded as low as $10.91 and last traded at $11.12, with a volume of 296,112 shares. The stock had previously closed at $11.71.

MNTA has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Momenta Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, April 27th. Leerink Swann reiterated an “outperform” rating and set a $18.00 target price (down from $21.00) on shares of Momenta Pharmaceuticals in a research report on Wednesday, May 4th. Brean Capital reiterated a “buy” rating and set a $19.00 target price on shares of Momenta Pharmaceuticals in a research report on Wednesday, May 4th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Momenta Pharmaceuticals in a research report on Wednesday, May 4th. Finally, Goldman Sachs Group Inc. initiated coverage on shares of Momenta Pharmaceuticals in a research report on Monday, June 6th. They set a “neutral” rating and a $14.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Momenta Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $18.40.

The firm’s 50-day moving average is $11.11 and its 200 day moving average is $10.51. The firm’s market cap is $769.65 million.

Momenta Pharmaceuticals (NASDAQ:MNTA) last issued its quarterly earnings results on Tuesday, May 3rd. The biotechnology company reported ($0.35) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.32) by $0.03. The firm had revenue of $19.90 million for the quarter, compared to analysts’ expectations of $28.12 million. During the same quarter in the prior year, the business earned ($0.40) EPS. The business’s revenue for the quarter was up 132.5% on a year-over-year basis. Equities research analysts predict that Momenta Pharmaceuticals Inc. will post ($1.40) EPS for the current fiscal year.

In other news, President Craig A. Wheeler sold 5,880 shares of the business’s stock in a transaction that occurred on Friday, May 20th. The shares were 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 approximately $3,558,123.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Other hedge funds and institutional investors have recently modified their holdings of the company. Morgan Stanley increased 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 worth $1,035,000 after buying an additional 38,470 shares during the period. Rhumbline Advisers increased its position in shares of 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 during the period. GSA Capital Partners LLP increased its position in shares of 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 during the period. Swiss National Bank increased its position in shares of 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 during the period. Finally, California State Teachers Retirement System increased its position in shares of Momenta Pharmaceuticals by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 113,170 shares of the biotechnology company’s stock worth $1,679,000 after buying an additional 1,801 shares during the period.

Momenta Pharmaceuticals, Inc is a biotechnology company. The Company is focused on developing generic versions of drugs, biosimilars and therapeutics for oncology and autoimmune disease. It focuses on three product areas: Complex Generics, Biosimilars and Novel Therapeutics. It has developed generic version of Lovenox (enoxaparin sodium injection).

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.