Momenta Pharmaceuticals, Inc. (MNTA) Downgraded by BidaskClub to “Hold”
Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Thursday.
A number of other equities research analysts have also commented on the company. Zacks Investment Research lowered Momenta Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday. Barclays PLC lowered Momenta Pharmaceuticals from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $20.00 to $17.00 in a research report on Monday, May 22nd. Cowen and Company reiterated a “hold” rating and issued a $15.00 target price on shares of Momenta Pharmaceuticals in a research report on Wednesday, May 3rd. Maxim Group set a $6.00 target price on Momenta Pharmaceuticals and gave the company a “sell” rating in a research report on Wednesday, May 3rd. Finally, Aegis reiterated a “hold” rating and issued a $17.00 target price on shares of Momenta Pharmaceuticals in a research report on Wednesday, May 3rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $16.89.
Shares of Momenta Pharmaceuticals (NASDAQ MNTA) traded down 1.76% during trading on Thursday, hitting $16.75. 805,899 shares of the stock traded hands. Momenta Pharmaceuticals has a 52-week low of $10.50 and a 52-week high of $19.90. The stock has a 50 day moving average of $16.04 and a 200 day moving average of $15.38. The firm’s market cap is $1.18 billion.
Momenta Pharmaceuticals (NASDAQ:MNTA) last issued its quarterly earnings results on Tuesday, May 2nd. The biotechnology company reported ($0.46) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.09) by $0.63. Momenta Pharmaceuticals had a negative return on equity of 8.20% and a negative net margin of 24.70%. The business had revenue of $26.61 million for the quarter, compared to analyst estimates of $21.29 million. During the same quarter in the previous year, the firm earned ($0.35) earnings per share. The company’s revenue was up 34.1% on a year-over-year basis. Analysts expect that Momenta Pharmaceuticals will post ($1.45) EPS for the current year.
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In other Momenta Pharmaceuticals news, President Craig A. Wheeler sold 1,852 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $15.77, for a total value of $29,206.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Craig A. Wheeler sold 4,116 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $15.83, for a total value of $65,156.28. Following the completion of the transaction, the president now directly owns 281,919 shares of the company’s stock, valued at $4,462,777.77. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,379 shares of company stock worth $131,825. 4.40% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in MNTA. Dynamic Technology Lab Private Ltd bought a new position in shares of Momenta Pharmaceuticals during the first quarter worth about $158,000. BNP Paribas Arbitrage SA increased its position in shares of Momenta Pharmaceuticals by 13.3% in the first quarter. BNP Paribas Arbitrage SA now owns 13,393 shares of the biotechnology company’s stock worth $179,000 after buying an additional 1,570 shares during the last quarter. A.R.T. Advisors LLC bought a new position in shares of Momenta Pharmaceuticals during the fourth quarter worth about $182,000. Envestnet Asset Management Inc. increased its position in shares of Momenta Pharmaceuticals by 3.0% in the first quarter. Envestnet Asset Management Inc. now owns 14,275 shares of the biotechnology company’s stock worth $191,000 after buying an additional 411 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its position in shares of Momenta Pharmaceuticals by 2.2% in the first quarter. Municipal Employees Retirement System of Michigan now owns 14,600 shares of the biotechnology company’s stock worth $195,000 after buying an additional 310 shares during the last quarter. 86.05% of the stock is owned by institutional investors.
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. The Company has developed generic version of LOVENOX (enoxaparin sodium injection) and COPAXONE (glatiramer acetate injection).
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