Momenta Pharmaceuticals’ (MNTA) Buy Rating Reiterated at Stifel Nicolaus
Stifel Nicolaus restated their buy rating on shares of Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) in a report issued on Thursday. The firm currently has a $26.00 price target on the biotechnology company’s stock.
A number of other research analysts have also recently commented on the company. Barclays PLC cut Momenta Pharmaceuticals from an overweight rating to an equal weight rating and reduced their price objective for the stock from $20.00 to $17.00 in a research note on Monday, May 22nd. Cowen and Company restated a hold rating and set a $15.00 price objective on shares of Momenta Pharmaceuticals in a research note on Wednesday, May 3rd. Maxim Group set a $6.00 price objective on Momenta Pharmaceuticals and gave the stock a sell rating in a research note on Wednesday, May 3rd. Zacks Investment Research cut Momenta Pharmaceuticals from a hold rating to a sell rating in a research note on Tuesday, July 4th. Finally, BidaskClub upgraded Momenta Pharmaceuticals from a hold rating to a buy rating in a research note on Friday, June 23rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $16.63.
Shares of Momenta Pharmaceuticals (MNTA) traded up 1.55% during midday trading on Thursday, reaching $16.40. The company’s stock had a trading volume of 573,993 shares. Momenta Pharmaceuticals has a 52 week low of $10.50 and a 52 week high of $19.90. The firm’s 50 day moving average is $16.96 and its 200 day moving average is $15.62. The firm’s market capitalization is $1.22 billion.
Momenta Pharmaceuticals (NASDAQ:MNTA) last issued its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.50) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.50). The company had revenue of $23.57 million for the quarter, compared to analysts’ expectations of $24.64 million. Momenta Pharmaceuticals had a negative return on equity of 12.28% and a negative net margin of 39.35%. The firm’s quarterly revenue was down 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.31) earnings per share. Equities analysts forecast that Momenta Pharmaceuticals will post ($1.44) EPS for the current fiscal year.
In other news, President Craig A. Wheeler sold 1,852 shares of Momenta Pharmaceuticals stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $15.77, for a total transaction of $29,206.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Craig A. Wheeler sold 4,116 shares of Momenta Pharmaceuticals stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $15.83, for a total value of $65,156.28. Following the sale, the president now directly owns 281,919 shares in the company, valued at $4,462,777.77. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,579 shares of company stock worth $135,225. Corporate insiders own 4.40% of the company’s stock.
Several hedge funds have recently made changes to their positions in MNTA. Russell Investments Group Ltd. acquired a new stake in shares of Momenta Pharmaceuticals during the fourth quarter worth about $284,000. Guggenheim Capital LLC acquired a new stake in shares of Momenta Pharmaceuticals during the fourth quarter worth about $751,000. Norges Bank acquired a new stake in shares of Momenta Pharmaceuticals during the fourth quarter worth about $22,650,000. Louisiana State Employees Retirement System raised its stake in shares of Momenta Pharmaceuticals by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 26,300 shares of the biotechnology company’s stock worth $351,000 after buying an additional 600 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. raised its stake in shares of Momenta Pharmaceuticals by 200.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 210,000 shares of the biotechnology company’s stock worth $2,804,000 after buying an additional 140,000 shares during the last quarter. 86.62% 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. The Company has developed generic version of LOVENOX (enoxaparin sodium injection) and COPAXONE (glatiramer acetate injection).
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