Momenta Pharmaceuticals, Inc. (MNTA) Sees Strong Trading Volume
Shares of Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) saw strong trading volume on Friday . 2,259,092 shares were traded during mid-day trading, an increase of 301% from the previous session’s volume of 564,005 shares.The stock last traded at $17.60 and had previously closed at $17.35.
A number of analysts have recently commented on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $26.00 price objective on shares of Momenta Pharmaceuticals in a research report on Thursday, August 3rd. BidaskClub lowered shares of Momenta Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. Zacks Investment Research lowered shares of Momenta Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Maxim Group set a $6.00 price objective on shares of Momenta Pharmaceuticals and gave the stock a “sell” rating in a research report on Thursday, August 3rd. Finally, Barclays PLC lowered shares of Momenta Pharmaceuticals from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $20.00 to $17.00 in a research report on Monday, May 22nd. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Momenta Pharmaceuticals presently has an average rating of “Hold” and an average price target of $16.63.
The firm has a 50-day moving average price of $16.42 and a 200 day moving average price of $15.52. The stock’s market cap is $1.30 billion.
Momenta Pharmaceuticals (NASDAQ:MNTA) last issued 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 business had revenue of $23.57 million for the quarter, compared to analysts’ expectations of $24.64 million. During the same period last year, the business earned ($0.31) EPS. The business’s revenue was down 10.8% on a year-over-year basis. Analysts anticipate that Momenta Pharmaceuticals, Inc. will post ($1.39) EPS for the current year.
In other Momenta Pharmaceuticals news, President Craig A. Wheeler sold 4,116 shares of the firm’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $15.07, for a total transaction of $62,028.12. Following the transaction, the president now directly owns 269,231 shares in the company, valued at approximately $4,057,311.17. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 43,996 shares of company stock worth $735,755. Company insiders own 4.40% of the company’s stock.
Large investors have recently modified their holdings of the business. Edmond DE Rothschild Holding S.A. bought a new position in Momenta Pharmaceuticals during the 1st quarter valued at $5,607,000. Great West Life Assurance Co. Can raised its stake in shares of Momenta Pharmaceuticals by 8.4% during the 2nd quarter. Great West Life Assurance Co. Can now owns 96,471 shares of the biotechnology company’s stock worth $1,625,000 after purchasing an additional 7,450 shares during the period. Comerica Bank raised its stake in shares of Momenta Pharmaceuticals by 5.4% during the 1st quarter. Comerica Bank now owns 71,875 shares of the biotechnology company’s stock worth $1,006,000 after purchasing an additional 3,652 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Momenta Pharmaceuticals by 65.1% during the 1st quarter. JPMorgan Chase & Co. now owns 636,744 shares of the biotechnology company’s stock worth $8,500,000 after purchasing an additional 251,159 shares during the period. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Momenta Pharmaceuticals by 13.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 13,393 shares of the biotechnology company’s stock worth $179,000 after purchasing an additional 1,570 shares during the period. Institutional investors and hedge funds own 93.86% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “Momenta Pharmaceuticals, Inc. (MNTA) Sees Strong Trading Volume” was originally reported by Daily Political and is the sole property of of Daily Political. If you are reading this piece on another website, it was stolen and republished in violation of US & international trademark & copyright laws. The correct version of this piece can be accessed at https://www.dailypolitical.com/2017/09/15/momenta-pharmaceuticals-inc-mnta-sees-strong-trading-volume-2.html.
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).
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.