Momenta Pharmaceuticals Inc. (MNTA) Shares Down 2.2%
Momenta Pharmaceuticals Inc. (NASDAQ:MNTA)’s share price fell 2.2% during mid-day trading on Friday . The company traded as low as $11.45 and last traded at $11.45, with a volume of 158,845 shares. The stock had previously closed at $11.71.
A number of brokerages recently issued reports on MNTA. Goldman Sachs Group Inc. began coverage on shares of Momenta Pharmaceuticals in a research report on Monday, June 6th. They set a “neutral” rating and a $14.00 target price on the stock. Zacks Investment Research raised shares of Momenta Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, April 27th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Momenta Pharmaceuticals in a report on Wednesday, May 4th. Brean Capital reissued a “buy” rating and issued a $19.00 price target on shares of Momenta Pharmaceuticals in a report on Wednesday, May 4th. Finally, Leerink Swann reissued an “outperform” rating and issued a $18.00 price target (down previously from $21.00) on shares of Momenta Pharmaceuticals in a report on Wednesday, May 4th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $18.40.
The firm has a 50 day moving average of $11.21 and a 200-day moving average of $10.60. The stock’s market cap is $779.91 million.
Momenta Pharmaceuticals (NASDAQ:MNTA) last released its earnings results on Tuesday, May 3rd. The biotechnology company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.32) by $0.03. During the same period in the previous year, the company earned ($0.40) earnings per share. The company had revenue of $19.90 million for the quarter, compared to analyst estimates of $28.12 million. The company’s quarterly revenue was up 132.5% compared to the same quarter last year. On average, equities research analysts expect that Momenta Pharmaceuticals Inc. will post ($1.33) earnings per share for the current year.
In related news, President Craig A. Wheeler sold 5,880 shares of the firm’s stock in a transaction on Friday, May 20th. The shares were sold at an average price of $10.18, for a total value 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 document filed with the Securities & Exchange Commission, which is available through this link.
Other institutional investors recently added to or reduced their stakes in the company. Stevens Capital Management LP bought a new position in Momenta Pharmaceuticals during the fourth quarter worth approximately $1,109,000. GSA Capital Partners LLP boosted its position in 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. Morgan Stanley boosted its position in 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. Principal Financial Group Inc. boosted 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 worth $6,279,000 after buying an additional 18,504 shares during the period. Finally, Rhumbline Advisers boosted its position in 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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