Momenta Pharmaceuticals, Inc. (MNTA) Position Raised by Credit Suisse AG
Credit Suisse AG raised its position in shares of Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) by 56.4% during the first quarter, Holdings Channel reports. The firm owned 121,098 shares of the biotechnology company’s stock after buying an additional 43,685 shares during the period. Credit Suisse AG’s holdings in Momenta Pharmaceuticals were worth $1,616,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the stock. Russell Investments Group Ltd. acquired a new stake in shares of Momenta Pharmaceuticals during the fourth quarter worth $284,000. Guggenheim Capital LLC acquired a new stake in shares of Momenta Pharmaceuticals during the fourth quarter worth $751,000. 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 period. 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 period. Finally, Nationwide Fund Advisors raised its stake in shares of Momenta Pharmaceuticals by 179.3% in the first quarter. Nationwide Fund Advisors now owns 112,712 shares of the biotechnology company’s stock worth $1,505,000 after buying an additional 72,361 shares during the period. Hedge funds and other institutional investors own 86.89% of the company’s stock.
Shares of Momenta Pharmaceuticals, Inc. (MNTA) traded down 1.85% on Friday, hitting $15.90. The stock had a trading volume of 746,780 shares. Momenta Pharmaceuticals, Inc. has a 1-year low of $10.66 and a 1-year high of $19.90. The stock’s market cap is $1.18 billion. The firm’s 50-day moving average is $16.80 and its 200 day moving average is $15.69.
Momenta Pharmaceuticals (NASDAQ:MNTA) last released its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.50) earnings per share for the quarter, meeting the consensus estimate of ($0.50). Momenta Pharmaceuticals had a negative return on equity of 12.28% and a negative net margin of 39.35%. The company had revenue of $23.57 million for the quarter, compared to analyst estimates of $24.64 million. During the same period in the prior year, the company posted ($0.31) EPS. The company’s revenue was down 10.8% compared to the same quarter last year. Equities analysts forecast that Momenta Pharmaceuticals, Inc. will post ($1.20) EPS for the current year.
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MNTA has been the subject of a number of recent analyst reports. Stifel Nicolaus lowered their price objective on Momenta Pharmaceuticals from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, May 3rd. Aegis restated a “hold” rating and set a $17.00 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 company a “sell” rating in a research note on Wednesday, May 3rd. 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. Finally, Barclays PLC lowered Momenta Pharmaceuticals from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $20.00 to $17.00 in a research note on Monday, May 22nd. Two 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. Momenta Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $16.63.
In other news, President Craig A. Wheeler sold 4,116 shares of the company’s stock in a transaction that occurred on 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 approximately $4,462,777.77. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last quarter, insiders sold 5,996 shares of company stock worth $94,323. Corporate insiders own 4.40% of the company’s stock.
Momenta Pharmaceuticals Company Profile
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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