Shares of Momenta Pharmaceuticals Inc. (NASDAQ:MNTA) shot up 2.3% on Monday . The company traded as high as $12.32 and last traded at $12.22, with a volume of 485,535 shares traded. The stock had previously closed at $11.94.

A number of research firms recently weighed in on MNTA. Cowen and Company restated a “hold” rating on shares of Momenta Pharmaceuticals in a research report on Sunday, August 7th. JPMorgan Chase & Co. dropped their target price 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. Goldman Sachs Group Inc. began coverage on Momenta Pharmaceuticals in a research report on Monday, June 6th. They issued a “neutral” rating and a $14.00 target price for the company. Brean Capital set a $19.00 target price on Momenta Pharmaceuticals and gave the stock a “buy” rating in a research report on Friday, August 5th. Finally, Zacks Investment Research upgraded Momenta Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, April 27th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $16.33.

The firm’s market cap is $845.80 million. The stock’s 50-day moving average is $11.58 and its 200-day moving average is $10.40.

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

Several hedge funds have added to or reduced their stakes in the company. Morgan Stanley boosted its stake in 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 in the last quarter. Rhumbline Advisers boosted its stake in Momenta Pharmaceuticals by 9.9% in the fourth quarter. Rhumbline Advisers now owns 75,638 shares of the biotechnology company’s stock valued at $1,122,000 after buying an additional 6,835 shares in the last quarter. Swiss National Bank boosted its stake in Momenta Pharmaceuticals by 2.6% in the fourth quarter. Swiss National Bank now owns 91,500 shares of the biotechnology company’s stock valued at $1,358,000 after buying an additional 2,300 shares in the last quarter. New York State Common Retirement Fund boosted its stake in 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 valued at $2,241,000 after buying an additional 2,900 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in 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 valued at $2,977,000 after buying an additional 5,600 shares in the last quarter.

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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