Stifel Nicolaus set a $39.00 target price on Momenta Pharmaceuticals (NASDAQ:MNTA) in a research report report published on Wednesday. The brokerage currently has a buy rating on the biotechnology company’s stock.
MNTA has been the subject of a number of other reports. BidaskClub downgraded Momenta Pharmaceuticals from a strong-buy rating to a buy rating in a research report on Thursday, October 4th. ValuEngine upgraded Momenta Pharmaceuticals from a hold rating to a buy rating in a research report on Thursday, November 1st. Cantor Fitzgerald set a $24.00 price target on Momenta Pharmaceuticals and gave the stock a hold rating in a research report on Wednesday, October 10th. Finally, Zacks Investment Research upgraded Momenta Pharmaceuticals from a strong sell rating to a hold rating in a research report on Monday, October 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $27.00.
Shares of MNTA stock traded down $1.38 on Wednesday, reaching $13.12. The company’s stock had a trading volume of 392,891 shares, compared to its average volume of 998,393. Momenta Pharmaceuticals has a 1 year low of $11.72 and a 1 year high of $32.20. The firm has a market cap of $1.13 billion, a PE ratio of -10.93 and a beta of 2.34.
Momenta Pharmaceuticals (NASDAQ:MNTA) last issued its quarterly earnings results on Wednesday, November 7th. The biotechnology company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.18. The company had revenue of $14.88 million during the quarter, compared to the consensus estimate of $16.99 million. Momenta Pharmaceuticals had a negative return on equity of 44.72% and a negative net margin of 158.21%. Momenta Pharmaceuticals’s revenue was down 38.2% on a year-over-year basis. During the same period last year, the company earned ($0.44) earnings per share. As a group, research analysts anticipate that Momenta Pharmaceuticals will post -2.59 EPS for the current fiscal year.
In related news, CEO Craig A. Wheeler sold 1,969 shares of the firm’s stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $27.43, for a total value of $54,009.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Elizabeth Stoner sold 4,152 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $27.33, for a total value of $113,474.16. Following the completion of the sale, the director now owns 33,791 shares of the company’s stock, valued at $923,508.03. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,052 shares of company stock valued at $192,854. 4.80% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. Trexquant Investment LP purchased a new stake in shares of Momenta Pharmaceuticals during the third quarter worth approximately $483,000. FMR LLC increased its position in shares of Momenta Pharmaceuticals by 1.0% during the third quarter. FMR LLC now owns 11,747,215 shares of the biotechnology company’s stock worth $308,951,000 after purchasing an additional 113,380 shares in the last quarter. BlackRock Inc. increased its position in shares of Momenta Pharmaceuticals by 3.4% during the third quarter. BlackRock Inc. now owns 12,080,344 shares of the biotechnology company’s stock worth $317,713,000 after purchasing an additional 399,232 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Momenta Pharmaceuticals by 3.2% during the third quarter. Bank of New York Mellon Corp now owns 894,031 shares of the biotechnology company’s stock worth $23,513,000 after purchasing an additional 27,708 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Momenta Pharmaceuticals by 3.8% during the third quarter. Wells Fargo & Company MN now owns 236,651 shares of the biotechnology company’s stock worth $6,224,000 after purchasing an additional 8,710 shares in the last quarter. Institutional investors and hedge funds own 95.93% 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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