Momenta Pharmaceuticals Inc. (MNTA) Lifted to Overweight at Barclays PLC
Momenta Pharmaceuticals Inc. (NASDAQ:MNTA) was upgraded by analysts at Barclays PLC from an “equal weight” rating to an “overweight” rating in a report released on Tuesday.
Several other equities analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Momenta Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, October 5th. Maxim Group downgraded shares of Momenta Pharmaceuticals from a “hold” rating to a “sell” rating and set a $6.00 price target on the stock. in a research note on Wednesday, September 7th. Cowen and Company reissued a “hold” rating on shares of Momenta Pharmaceuticals in a research note on Sunday, August 7th. JPMorgan Chase & Co. decreased their price target 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. Finally, Brean Capital set a $19.00 price target on shares of Momenta Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, August 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $16.00.
Shares of Momenta Pharmaceuticals (NASDAQ:MNTA) opened at 11.765 on Tuesday. Momenta Pharmaceuticals has a one year low of $7.86 and a one year high of $18.85. The company’s market capitalization is $807.04 million. The firm has a 50-day moving average of $11.92 and a 200-day moving average of $11.00.
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Momenta Pharmaceuticals (NASDAQ:MNTA) last posted its quarterly earnings data on Thursday, August 4th. The biotechnology company reported ($0.31) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.32) by $0.01. The business had revenue of $26.40 million for the quarter, compared to the consensus estimate of $23.55 million. Momenta Pharmaceuticals had a negative net margin of 126.37% and a negative return on equity of 28.76%. The company’s revenue was down 41.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.04) earnings per share. Analysts forecast that Momenta Pharmaceuticals will post ($1.25) earnings per share for the current year.
In other Momenta Pharmaceuticals news, President Craig A. Wheeler sold 5,880 shares of Momenta Pharmaceuticals stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $12.02, for a total transaction of $70,677.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 6.10% of the company’s stock.
Large investors have recently made changes to their positions in the stock. FMR LLC boosted 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 in the last quarter. BlackRock Fund Advisors boosted its stake in shares of Momenta Pharmaceuticals by 4.5% in the second quarter. BlackRock Fund Advisors now owns 4,922,956 shares of the biotechnology company’s stock worth $53,168,000 after buying an additional 210,607 shares in the last quarter. Fiera Capital Corp bought a new stake in shares of Momenta Pharmaceuticals during the second quarter worth $26,019,000. Palo Alto Investors LLC boosted its stake in shares of Momenta Pharmaceuticals by 10.9% in the second quarter. Palo Alto Investors LLC now owns 1,629,076 shares of the biotechnology company’s stock worth $17,594,000 after buying an additional 160,300 shares in the last quarter. Finally, Sector Gamma AS boosted its stake in shares of Momenta Pharmaceuticals by 17.3% in the second quarter. Sector Gamma AS now owns 914,979 shares of the biotechnology company’s stock worth $9,882,000 after buying an additional 134,666 shares in the last quarter. Institutional investors and hedge funds own 81.08% of the company’s stock.
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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