Barclays PLC Upgrades Momenta Pharmaceuticals Inc. (MNTA) to Overweight
Barclays PLC upgraded shares of Momenta Pharmaceuticals Inc. (NASDAQ:MNTA) from an equal weight rating to an overweight rating in a research report report published on Tuesday morning. They currently have $19.00 price objective on the biotechnology company’s stock, up from their prior price objective of $13.00.
A number of other brokerages have also recently issued reports on MNTA. Zacks Investment Research upgraded shares of Momenta Pharmaceuticals from a hold rating to a buy rating and set a $13.00 price objective for the company in a research note on Tuesday, October 4th. JPMorgan Chase & Co. dropped their target price on shares of Momenta Pharmaceuticals from $21.00 to $15.00 and set an overweight rating for the company in a research report on Friday, August 5th. Brean Capital set a $19.00 target price on shares of Momenta Pharmaceuticals and gave the stock a buy rating in a research report on Friday, August 5th. Cowen and Company reiterated a hold rating on shares of Momenta Pharmaceuticals in a research report on Sunday, August 7th. Finally, Maxim Group cut shares of Momenta Pharmaceuticals from a hold rating to a sell rating and set a $6.00 target price for the company. in a research report on Wednesday, September 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. Momenta Pharmaceuticals presently has a consensus rating of Buy and an average target price of $15.78.
Momenta Pharmaceuticals (NASDAQ:MNTA) traded down 0.58% during mid-day trading on Tuesday, hitting $11.98. 26,140 shares of the company were exchanged. The stock’s market cap is $821.79 million. Momenta Pharmaceuticals has a 12-month low of $7.86 and a 12-month high of $18.85. The company has a 50 day moving average of $11.91 and a 200 day moving average of $11.07.
Momenta Pharmaceuticals (NASDAQ:MNTA) last announced its quarterly earnings data on Thursday, August 4th. The biotechnology company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.01. Momenta Pharmaceuticals had a negative net margin of 126.37% and a negative return on equity of 28.76%. The company earned $26.40 million during the quarter, compared to analysts’ expectations of $23.55 million. During the same quarter in the prior year, the company posted ($0.04) EPS. The business’s revenue was down 41.2% on a year-over-year basis. On average, equities research analysts expect that Momenta Pharmaceuticals will post ($1.25) earnings per share for the current fiscal year.
In other news, President Craig A. Wheeler sold 5,880 shares of the firm’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $12.02, for a total value of $70,677.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 6.10% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fiera Capital Corp purchased a new position in Momenta Pharmaceuticals during the second quarter valued at $26,019,000. Sector Gamma AS raised its position in Momenta Pharmaceuticals by 83.8% in the first quarter. Sector Gamma AS now owns 780,313 shares of the biotechnology company’s stock valued at $7,210,000 after buying an additional 355,777 shares during the last quarter. FMR LLC raised its position in Momenta Pharmaceuticals by 2.6% in the second quarter. FMR LLC now owns 10,632,879 shares of the biotechnology company’s stock valued at $114,835,000 after buying an additional 265,713 shares during the last quarter. BlackRock Fund Advisors raised its position in Momenta Pharmaceuticals by 4.5% in the second quarter. BlackRock Fund Advisors now owns 4,922,956 shares of the biotechnology company’s stock valued at $53,168,000 after buying an additional 210,607 shares during the last quarter. Finally, Palo Alto Investors LLC raised its position in Momenta Pharmaceuticals by 10.9% in the second quarter. Palo Alto Investors LLC now owns 1,629,076 shares of the biotechnology company’s stock valued at $17,594,000 after buying an additional 160,300 shares during the last quarter. 81.09% of the stock is currently owned by institutional investors and hedge funds.
About Momenta Pharmaceuticals
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).
Receive News & Ratings for Momenta Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Momenta Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.