Brokerages Set Momenta Pharmaceuticals, Inc. (MNTA) Price Target at $14.43

Shares of Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) have been assigned a consensus recommendation of “Hold” from the eleven ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $14.43.

A number of brokerages recently issued reports on MNTA. BidaskClub upgraded Momenta Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. TheStreet lowered Momenta Pharmaceuticals from a “c-” rating to a “d” rating in a research note on Tuesday, May 8th. ValuEngine lowered Momenta Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Finally, Stifel Nicolaus upgraded Momenta Pharmaceuticals from a “hold” rating to a “buy” rating and raised their target price for the stock from $18.00 to $21.00 in a research note on Thursday, February 22nd.

Shares of MNTA traded up $0.45 during midday trading on Friday, hitting $23.40. 16,112 shares of the company’s stock traded hands, compared to its average volume of 855,091. Momenta Pharmaceuticals has a 1 year low of $21.80 and a 1 year high of $21.95. The firm has a market cap of $1.76 billion, a PE ratio of -19.42 and a beta of 1.63.

Momenta Pharmaceuticals (NASDAQ:MNTA) last issued its quarterly earnings data on Tuesday, May 8th. The biotechnology company reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.19). Momenta Pharmaceuticals had a negative net margin of 88.77% and a negative return on equity of 28.56%. The business had revenue of $4.85 million for the quarter, compared to analysts’ expectations of $15.63 million. During the same quarter in the prior year, the company posted ($0.46) EPS. The business’s revenue for the quarter was down 81.8% on a year-over-year basis. research analysts forecast that Momenta Pharmaceuticals will post -1.34 earnings per share for the current fiscal year.

In related news, CEO Craig A. Wheeler sold 3,938 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $16.46, for a total value of $64,819.48. Following the completion of the transaction, the chief executive officer now owns 239,869 shares in the company, valued at approximately $3,948,243.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Craig A. Wheeler sold 1,772 shares of the firm’s stock in a transaction on Thursday, May 10th. The stock was sold at an average price of $21.86, for a total value of $38,735.92. Following the completion of the transaction, the chief executive officer now owns 198,987 shares of the company’s stock, valued at approximately $4,349,855.82. The disclosure for this sale can be found here. Insiders sold a total of 174,558 shares of company stock valued at $3,512,669 in the last 90 days. 4.40% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its position in Momenta Pharmaceuticals by 2.7% during the 1st quarter. BlackRock Inc. now owns 10,755,588 shares of the biotechnology company’s stock worth $195,213,000 after purchasing an additional 282,272 shares during the period. Palo Alto Investors LP grew its position in Momenta Pharmaceuticals by 0.5% during the 1st quarter. Palo Alto Investors LP now owns 1,830,435 shares of the biotechnology company’s stock worth $33,222,000 after purchasing an additional 8,859 shares during the period. Palo Alto Investors LLC grew its position in Momenta Pharmaceuticals by 1.5% during the 4th quarter. Palo Alto Investors LLC now owns 1,821,576 shares of the biotechnology company’s stock worth $25,411,000 after purchasing an additional 26,578 shares during the period. Renaissance Technologies LLC grew its position in Momenta Pharmaceuticals by 9.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,583,000 shares of the biotechnology company’s stock worth $22,083,000 after purchasing an additional 134,500 shares during the period. Finally, Tocqueville Asset Management L.P. grew its position in Momenta Pharmaceuticals by 243.6% during the 4th quarter. Tocqueville Asset Management L.P. now owns 963,784 shares of the biotechnology company’s stock worth $13,445,000 after purchasing an additional 683,296 shares during the period. 96.43% of the stock is currently owned by institutional investors.

About Momenta Pharmaceuticals

Momenta Pharmaceuticals, Inc, a biotechnology company, focuses on developing generic versions of complex drugs, biosimilars, and novel therapeutics for autoimmune diseases in the United States. The company's complex generics programs include Enoxaparin sodium injection, a generic version of Lovenox that is indicated for the prevention and treatment of deep vein thrombosis, as well as supports the treatment of acute coronary syndromes; GLATOPA, a generic version of once-daily COPAXONE for the treatment of patients with relapsing-remitting multiple sclerosis; and GLATOPA, a generic product candidate for three-times-weekly COPAXONE.

Analyst Recommendations for Momenta Pharmaceuticals (NASDAQ:MNTA)

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