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.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/momenta-pharmaceuticals-inc-mnta-shares-down-3-4.html

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).

5 Day Chart for NASDAQ:MNTA

Receive News & Ratings for Momenta Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Momenta Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.