Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) Given Average Recommendation of “Hold” by Analysts
Shares of Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) have earned an average recommendation of “Hold” from the eleven brokerages that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $17.00.
A number of research firms recently issued reports on MNTA. BidaskClub downgraded shares of Momenta Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Zacks Investment Research downgraded shares of Momenta Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Stifel Nicolaus decreased their price objective on shares of Momenta Pharmaceuticals from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, May 3rd. Aegis reiterated a “hold” rating and set a $17.00 price objective on shares of Momenta Pharmaceuticals in a research note on Wednesday, May 3rd. Finally, Maxim Group set a $6.00 price objective on shares of Momenta Pharmaceuticals and gave the stock a “sell” rating in a research note on Wednesday, May 3rd.
In other news, President Craig A. Wheeler sold 4,116 shares of the company’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $15.83, for a total transaction of $65,156.28. Following the completion of the transaction, the president now owns 281,919 shares in the company, valued at $4,462,777.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Craig A. Wheeler sold 1,852 shares of the company’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $15.77, for a total transaction of $29,206.04. The disclosure for this sale can be found here. Insiders sold 8,379 shares of company stock worth $131,825 over the last ninety days. 4.40% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new position in Momenta Pharmaceuticals during the first quarter valued at approximately $158,000. A.R.T. Advisors LLC purchased a new position in Momenta Pharmaceuticals during the fourth quarter valued at approximately $182,000. State of Alaska Department of Revenue raised its position in Momenta Pharmaceuticals by 84.6% in the second quarter. State of Alaska Department of Revenue now owns 13,184 shares of the biotechnology company’s stock valued at $222,000 after buying an additional 6,044 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Momenta Pharmaceuticals by 13.3% in the first quarter. BNP Paribas Arbitrage SA now owns 13,393 shares of the biotechnology company’s stock valued at $179,000 after buying an additional 1,570 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised 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 in the last quarter. Institutional investors and hedge funds own 86.03% of the company’s stock.
Momenta Pharmaceuticals (MNTA) traded up 2.07% during mid-day trading on Monday, hitting $17.25. 49,147 shares of the stock traded hands. The firm’s 50-day moving average is $16.04 and its 200-day moving average is $15.38. The company’s market cap is $1.22 billion. Momenta Pharmaceuticals has a 12-month low of $10.50 and a 12-month high of $19.90.
Momenta Pharmaceuticals (NASDAQ:MNTA) last released its earnings results on Tuesday, May 2nd. The biotechnology company reported ($0.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.09) by $0.63. Momenta Pharmaceuticals had a negative net margin of 24.70% and a negative return on equity of 8.20%. The firm had revenue of $26.61 million during the quarter, compared to the consensus estimate of $21.29 million. During the same period in the previous year, the firm earned ($0.35) earnings per share. Momenta Pharmaceuticals’s revenue was up 34.1% compared to the same quarter last year. Equities research analysts expect that Momenta Pharmaceuticals will post ($1.45) EPS for the current 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. The Company has developed generic version of LOVENOX (enoxaparin sodium injection) and COPAXONE (glatiramer acetate injection).
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