Momenta Pharmaceuticals Inc. (MNTA) Trading 5.2% Higher
Momenta Pharmaceuticals Inc. (NASDAQ:MNTA) shares traded up 5.2% during mid-day trading on Wednesday . The stock traded as high as $11.52 and last traded at $11.37, with a volume of 136,280 shares. The stock had previously closed at $10.81.
Several research analysts have issued reports on the company. Leerink Swann reiterated an “outperform” rating and issued a $18.00 price objective (down previously from $21.00) on shares of Momenta Pharmaceuticals in a research report on Wednesday, May 4th. Zacks Investment Research upgraded Momenta Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, April 27th. Goldman Sachs Group Inc. assumed coverage on Momenta Pharmaceuticals in a research report on Monday, June 6th. They issued a “neutral” rating and a $14.00 price objective for the company. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Momenta Pharmaceuticals in a research report on Wednesday, May 4th. Finally, Brean Capital reiterated a “buy” rating and issued a $19.00 price objective on shares of Momenta Pharmaceuticals in a research report on Wednesday, May 4th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Momenta Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $18.40.
The company’s market capitalization is $774.44 million. The company has a 50 day moving average price of $11.03 and a 200-day moving average price of $10.82.
Momenta Pharmaceuticals (NASDAQ:MNTA) last released its quarterly earnings data 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 company earned $19.90 million during the quarter, compared to analyst estimates of $28.12 million. During the same period in the prior year, the company earned ($0.40) EPS. Momenta Pharmaceuticals’s revenue for the quarter was up 132.5% on a year-over-year basis. On average, equities analysts expect that Momenta Pharmaceuticals Inc. will post ($1.33) earnings per share for the current year.
In other Momenta Pharmaceuticals news, VP John E. Bishop sold 2,843 shares of the business’s stock in a transaction on Tuesday, April 19th. The stock was sold at an average price of $9.57, for a total transaction of $27,207.51. Following the completion of the transaction, the vice president now owns 160,880 shares in the company, valued at approximately $1,539,621.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Craig A. Wheeler sold 5,880 shares of the business’s stock in a transaction on Friday, May 20th. The stock was 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 of the company’s stock, valued at approximately $3,558,123.78. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have made changes to their positions in MNTA. 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. Stevens Capital Management LP acquired a new position in shares of Momenta Pharmaceuticals during the fourth quarter worth about $1,109,000. 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. GSA Capital Partners LLP raised 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. Finally, Swiss National Bank raised 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.
Momenta Pharmaceuticals, Inc (Momenta) is a biotechnology company focused on developing generic versions of drugs, biosimilars and therapeutics for oncology and autoimmune disease. The Company has three product areas: Complex Generics, Biosimilars and Novel Therapeutics. The Company’s product, a generic version of Lovenox (enoxaparin sodium injection), was approved by the United States Food and Drug Administration.
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