Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA)’s share price hit a new 52-week high and low on Thursday . The stock traded as low as $22.85 and last traded at $22.70, with a volume of 1209 shares trading hands. The stock had previously closed at $22.60.
Several brokerages have recently weighed in on MNTA. Stifel Nicolaus upgraded Momenta Pharmaceuticals from a “hold” rating to a “buy” rating and lifted their price target for the company from $18.00 to $21.00 in a research report on Thursday, February 22nd. ValuEngine upgraded Momenta Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, February 23rd. BidaskClub cut Momenta Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, March 27th. Finally, TheStreet cut Momenta Pharmaceuticals from a “c-” rating to a “d” rating in a research report on Tuesday, May 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $15.13.
Momenta Pharmaceuticals (NASDAQ:MNTA) last posted its earnings results on Tuesday, May 8th. The biotechnology company reported ($0.63) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.44) by ($0.19). Momenta Pharmaceuticals had a negative return on equity of 28.56% and a negative net margin of 88.77%. 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 previous year, the firm earned ($0.46) earnings per share. Momenta Pharmaceuticals’s quarterly revenue was down 81.8% compared to the same quarter last year. equities analysts expect that Momenta Pharmaceuticals, Inc. will post -1.34 EPS for the current fiscal year.
In related news, CEO Craig A. Wheeler sold 3,938 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $16.46, for a total transaction of $64,819.48. Following the completion of the transaction, the chief executive officer now directly owns 239,869 shares in the company, valued at $3,948,243.74. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Craig A. Wheeler sold 1,772 shares of the business’s stock in a transaction dated Thursday, May 10th. The stock was sold at an average price of $21.86, for a total value of $38,735.92. Following the transaction, the chief executive officer now owns 198,987 shares of the company’s stock, valued at $4,349,855.82. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 174,558 shares of company stock valued at $3,512,669. 4.40% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of MNTA. LS Investment Advisors LLC grew its position in Momenta Pharmaceuticals by 59.8% during the fourth quarter. LS Investment Advisors LLC now owns 9,300 shares of the biotechnology company’s stock worth $130,000 after buying an additional 3,479 shares in the last quarter. Amalgamated Bank purchased a new position in Momenta Pharmaceuticals during the fourth quarter worth about $152,000. Landscape Capital Management L.L.C. purchased a new position in Momenta Pharmaceuticals during the fourth quarter worth about $159,000. Xact Kapitalforvaltning AB purchased a new position in Momenta Pharmaceuticals during the fourth quarter worth about $163,000. Finally, Quantitative Systematic Strategies LLC bought a new stake in Momenta Pharmaceuticals during the first quarter worth about $254,000. Institutional investors and hedge funds own 96.43% of the company’s stock.
Momenta Pharmaceuticals Company Profile
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.
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