Momenta Pharmaceuticals Inc. (NASDAQ:MNTA) Given Consensus Rating of “Hold” by Analysts
Momenta Pharmaceuticals Inc. (NASDAQ:MNTA) has been assigned an average recommendation of “Hold” from the nine brokerages that are currently covering the firm. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $16.29.
MNTA has been the topic of a number of research reports. JPMorgan Chase & Co. cut their price objective on Momenta Pharmaceuticals from $21.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, August 5th. Brean Capital set a $19.00 price objective on Momenta Pharmaceuticals and gave the stock a “buy” rating in a report on Friday, August 5th. Cowen and Company restated a “hold” rating on shares of Momenta Pharmaceuticals in a report on Sunday, August 7th. Maxim Group downgraded Momenta Pharmaceuticals from a “hold” rating to a “sell” rating and set a $6.00 price objective on the stock. in a report on Wednesday, September 7th. Finally, Goldman Sachs Group Inc. initiated coverage on Momenta Pharmaceuticals in a report on Monday, June 6th. They issued a “neutral” rating and a $14.00 price objective on the stock.
In other Momenta Pharmaceuticals news, President Craig A. Wheeler sold 5,880 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $12.02, for a total transaction of $70,677.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.10% of the company’s stock.
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A number of large investors have recently modified their holdings of the stock. Fiera Capital Corp acquired a new stake in shares of Momenta Pharmaceuticals during the second quarter worth $26,019,000. Norges Bank acquired a new stake in shares of Momenta Pharmaceuticals during the fourth quarter worth $17,153,000. Apex Capital Management raised its stake in shares of Momenta Pharmaceuticals by 74.5% in the first quarter. Apex Capital Management now owns 1,937,344 shares of the biotechnology company’s stock worth $17,901,000 after buying an additional 827,272 shares during the period. Sector Gamma AS raised its stake in shares of Momenta Pharmaceuticals by 83.8% in the first quarter. Sector Gamma AS now owns 780,313 shares of the biotechnology company’s stock worth $7,210,000 after buying an additional 355,777 shares during the period. Finally, FMR LLC raised its stake in shares of Momenta Pharmaceuticals by 2.6% in the second quarter. FMR LLC now owns 10,632,879 shares of the biotechnology company’s stock worth $114,835,000 after buying an additional 265,713 shares during the period. Hedge funds and other institutional investors own 81.08% of the company’s stock.
Momenta Pharmaceuticals (NASDAQ:MNTA) traded up 2.334% during midday trading on Tuesday, reaching $12.055. 197,546 shares of the company were exchanged. The firm’s 50 day moving average price is $11.97 and its 200-day moving average price is $10.66. The stock’s market capitalization is $826.94 million. Momenta Pharmaceuticals has a 52 week low of $7.86 and a 52 week high of $18.85.
Momenta Pharmaceuticals (NASDAQ:MNTA) last released its quarterly earnings data on Thursday, August 4th. The biotechnology company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.01. The company had revenue of $26.40 million for the quarter, compared to the consensus estimate of $23.55 million. Momenta Pharmaceuticals had a negative return on equity of 28.76% and a negative net margin of 126.37%. The company’s quarterly revenue was down 41.2% compared to the same quarter last year. During the same period last year, the business posted ($0.04) EPS. Equities analysts forecast that Momenta Pharmaceuticals will post ($1.25) EPS for the current fiscal year.
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. It focuses on three product areas: Complex Generics, Biosimilars and Novel Therapeutics. It has developed generic version of Lovenox (enoxaparin sodium injection).
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