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

MNTA has been the topic of several analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Momenta Pharmaceuticals from $21.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, August 5th. Leerink Swann reissued an “outperform” rating and issued a $18.00 target price (down previously from $21.00) on shares of Momenta Pharmaceuticals in a research report on Wednesday, May 4th. Brean Capital set a $19.00 target price on Momenta Pharmaceuticals and gave the company a “buy” rating in a research report on Friday, August 5th. Cowen and Company reissued a “hold” rating on shares of Momenta Pharmaceuticals in a research report on Sunday, August 7th. Finally, Zacks Investment Research raised Momenta Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, April 27th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $16.33.

The firm’s market capitalization is $832.10 million. The company has a 50-day moving average of $11.63 and a 200-day moving average of $10.38.

Momenta Pharmaceuticals (NASDAQ:MNTA) last released its quarterly earnings results on Thursday, August 4th. The biotechnology company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.01. The business earned $26.40 million during the quarter, compared to analyst estimates of $23.55 million. During the same quarter in the prior year, the company earned ($0.04) earnings per share. The firm’s revenue for the quarter was down 41.2% compared to the same quarter last year. Analysts forecast that Momenta Pharmaceuticals Inc. will post ($1.25) EPS for the current year.

In related news, President Craig A. Wheeler sold 5,880 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $12.02, for a total transaction of $70,677.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

A number of hedge funds have recently made changes to their positions in MNTA. Morgan Stanley raised its stake 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 stake 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 stake 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. Rhumbline Advisers raised its stake 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. Finally, Swiss National Bank raised its stake 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.

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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