Momenta Pharmaceuticals (MNTA) Downgraded by BidaskClub

BidaskClub lowered shares of Momenta Pharmaceuticals (NASDAQ:MNTA) from a buy rating to a hold rating in a research note issued to investors on Thursday.

A number of other analysts have also recently commented on MNTA. Goldman Sachs Group initiated coverage on shares of Momenta Pharmaceuticals in a research note on Thursday, September 28th. They issued a neutral rating and a $18.00 price target for the company. Stifel Nicolaus restated a hold rating and set a $15.00 target price (down previously from $22.00) on shares of Momenta Pharmaceuticals in a research note on Wednesday, October 4th. Zacks Investment Research upgraded shares of Momenta Pharmaceuticals from a hold rating to a buy rating and set a $20.00 target price for the company in a research note on Wednesday, October 4th. Barclays restated an equal weight rating and set a $16.00 target price (down previously from $17.00) on shares of Momenta Pharmaceuticals in a research note on Wednesday, October 4th. Finally, J P Morgan Chase & Co restated a hold rating and set a $14.00 target price on shares of Momenta Pharmaceuticals in a research note on Thursday, October 5th. Three research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. The stock has a consensus rating of Hold and a consensus price target of $15.00.

Shares of Momenta Pharmaceuticals (MNTA) traded up $0.15 during mid-day trading on Thursday, reaching $12.55. 578,900 shares of the company’s stock were exchanged, compared to its average volume of 763,176. Momenta Pharmaceuticals has a 12-month low of $11.85 and a 12-month high of $19.90.

Momenta Pharmaceuticals (NASDAQ:MNTA) last announced its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.03. The firm had revenue of $24.09 million during the quarter, compared to analysts’ expectations of $29.58 million. Momenta Pharmaceuticals had a negative net margin of 55.61% and a negative return on equity of 16.20%. The company’s revenue for the quarter was down 17.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.26) earnings per share. equities research analysts expect that Momenta Pharmaceuticals will post -1.16 EPS for the current year.

In other Momenta Pharmaceuticals news, President Craig A. Wheeler sold 35,667 shares of the firm’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $19.03, for a total value of $678,743.01. Following the transaction, the president now directly owns 286,121 shares of the company’s stock, valued at approximately $5,444,882.63. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders sold 44,006 shares of company stock worth $789,369. Insiders own 4.40% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its holdings in shares of Momenta Pharmaceuticals by 0.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 76,863 shares of the biotechnology company’s stock valued at $1,299,000 after purchasing an additional 303 shares during the last quarter. Pinebridge Investments L.P. boosted its position in Momenta Pharmaceuticals by 4.3% during the 2nd quarter. Pinebridge Investments L.P. now owns 8,798 shares of the biotechnology company’s stock worth $149,000 after buying an additional 363 shares during the period. Ameritas Investment Partners Inc. boosted its position in Momenta Pharmaceuticals by 14.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,446 shares of the biotechnology company’s stock worth $109,000 after buying an additional 834 shares during the period. Louisiana State Employees Retirement System boosted its position in Momenta Pharmaceuticals by 3.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 27,200 shares of the biotechnology company’s stock worth $460,000 after buying an additional 900 shares during the period. Finally, Arizona State Retirement System boosted its position in Momenta Pharmaceuticals by 3.3% during the 2nd quarter. Arizona State Retirement System now owns 34,834 shares of the biotechnology company’s stock worth $589,000 after buying an additional 1,100 shares during the period. 93.45% of the stock is currently owned by hedge funds and other institutional investors.

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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).

Analyst Recommendations for Momenta Pharmaceuticals (NASDAQ:MNTA)

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