Momenta Pharmaceuticals Inc. (MNTA) Shares Down 3.4%
Momenta Pharmaceuticals Inc. (NASDAQ:MNTA) shares dropped 3.4% during mid-day trading on Wednesday . The company traded as low as $11.43 and last traded at $11.58, with a volume of 215,902 shares changing hands. The stock had previously closed at $11.99.
MNTA has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Momenta Pharmaceuticals from $21.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday, August 5th. Brean Capital set a $19.00 target price on shares of Momenta Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, August 5th. Cowen and Company reiterated a “hold” rating on shares of Momenta Pharmaceuticals in a research note on Sunday, August 7th. Maxim Group lowered shares of Momenta Pharmaceuticals from a “hold” rating to a “sell” rating and set a $6.00 target price on the stock. in a research note on Wednesday, September 7th. Finally, Goldman Sachs Group Inc. initiated coverage on shares of Momenta Pharmaceuticals in a research note on Monday, June 6th. They issued a “neutral” rating and a $14.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $16.22.
The firm’s market capitalization is $812.87 million. The company has a 50-day moving average price of $11.99 and a 200-day moving average price of $10.68.
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Momenta Pharmaceuticals (NASDAQ:MNTA) last announced its quarterly earnings data on Thursday, August 4th. The biotechnology company reported ($0.31) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.32) by $0.01. The business had revenue of $26.40 million for the quarter, compared to analyst estimates of $23.55 million. Momenta Pharmaceuticals had a negative net margin of 126.37% and a negative return on equity of 28.76%. The firm’s revenue for the quarter was down 41.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. On average, analysts anticipate that Momenta Pharmaceuticals Inc. will post ($1.25) earnings per share for the current fiscal year.
In other Momenta Pharmaceuticals news, President Craig A. Wheeler sold 5,880 shares of the company’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $12.02, for a total transaction of $70,677.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 6.10% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of MNTA. Mason Street Advisors LLC purchased a new stake in Momenta Pharmaceuticals during the second quarter valued at about $134,000. Royal Bank of Canada raised its stake in Momenta Pharmaceuticals by 15.2% in the second quarter. Royal Bank of Canada now owns 25,579 shares of the biotechnology company’s stock valued at $276,000 after buying an additional 3,375 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Momenta Pharmaceuticals by 1.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 270,121 shares of the biotechnology company’s stock valued at $2,918,000 after buying an additional 3,474 shares during the period. Stifel Financial Corp raised its stake in Momenta Pharmaceuticals by 13.9% in the second quarter. Stifel Financial Corp now owns 26,451 shares of the biotechnology company’s stock valued at $286,000 after buying an additional 3,236 shares during the period. Finally, Fiera Capital Corp purchased a new stake in Momenta Pharmaceuticals during the second quarter valued at about $26,019,000. 81.08% of the stock is currently owned by hedge funds and other institutional investors.
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. 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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