Shares of Momenta Pharmaceuticals Inc. (NASDAQ:MNTA) dropped 1.2% on Thursday . The company traded as low as $11.73 and last traded at $11.87, with a volume of 190,551 shares traded. The stock had previously closed at $12.01.

MNTA has been the subject of a number of recent research reports. Cowen and Company reaffirmed a “hold” rating on shares of Momenta Pharmaceuticals in a research report on Sunday, August 7th. Brean Capital set a $19.00 price objective on Momenta Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, August 5th. Goldman Sachs Group Inc. initiated coverage on Momenta Pharmaceuticals in a research report on Monday, June 6th. They set a “neutral” rating and a $14.00 price objective for the company. Zacks Investment Research raised Momenta Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, April 27th. Finally, JPMorgan Chase & Co. decreased their price objective on Momenta Pharmaceuticals from $21.00 to $15.00 and set an “overweight” rating for the company in a research report on Friday, August 5th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Momenta Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $17.80.

The stock’s market capitalization is $821.11 million. The stock has a 50-day moving average of $11.35 and a 200 day moving average of $10.43.

Momenta Pharmaceuticals (NASDAQ:MNTA) last posted its earnings results on Thursday, August 4th. The biotechnology company reported ($0.31) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.32) by $0.01. The company had revenue of $26.40 million for the quarter, compared to the consensus estimate of $23.55 million. During the same period last year, the company posted ($0.04) earnings per share. The firm’s revenue for the quarter was down 41.2% compared to the same quarter last year. Equities analysts predict that Momenta Pharmaceuticals Inc. will post ($1.25) EPS for the current year.

In other news, President Craig A. Wheeler sold 5,880 shares of the company’s stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $10.18, for a total transaction of $59,858.40. Following the completion of the transaction, the president now directly owns 349,521 shares of the company’s stock, valued at $3,558,123.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Several institutional investors recently bought and sold shares of the stock. Principal Financial Group Inc. raised its position in Momenta Pharmaceuticals by 4.6% in the fourth quarter. Principal Financial Group Inc. now owns 423,158 shares of the biotechnology company’s stock valued at $6,279,000 after buying an additional 18,504 shares during the period. 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 worth $1,035,000 after buying an additional 38,470 shares during the period. New York State Common Retirement Fund raised its position in shares of Momenta Pharmaceuticals by 2.0% in the fourth quarter. New York State Common Retirement Fund now owns 150,991 shares of the biotechnology company’s stock worth $2,241,000 after buying an additional 2,900 shares during the period. California Public Employees Retirement System raised its position in shares of Momenta Pharmaceuticals by 2.9% in the fourth quarter. California Public Employees Retirement System now owns 200,600 shares of the biotechnology company’s stock worth $2,977,000 after buying an additional 5,600 shares during the period. Finally, Rhumbline Advisers raised 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.

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).

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