Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) saw a large growth in short interest in October. As of October 13th, there was short interest totalling 6,783,361 shares, a growth of 26.8% from the September 29th total of 5,349,100 shares. Currently, 9.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,937,230 shares, the days-to-cover ratio is currently 3.5 days.

MNTA has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Momenta Pharmaceuticals from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Wednesday, October 4th. Stifel Nicolaus restated a “buy” rating and set a $26.00 price target on shares of Momenta Pharmaceuticals in a research report on Thursday, August 3rd. Barclays PLC restated an “equal weight” rating and set a $16.00 price target (down from $17.00) on shares of Momenta Pharmaceuticals in a research report on Wednesday, October 4th. BidaskClub downgraded shares of Momenta Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Finally, J P Morgan Chase & Co restated a “hold” rating and set a $14.00 price target on shares of Momenta Pharmaceuticals in a research report on Thursday, October 5th. Three investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $15.00.

Momenta Pharmaceuticals (NASDAQ:MNTA) opened at 13.80 on Thursday. Momenta Pharmaceuticals has a 52 week low of $10.75 and a 52 week high of $19.90. The stock has a 50 day moving average of $15.74 and a 200 day moving average of $15.81. The firm’s market cap is $1.02 billion.

Momenta Pharmaceuticals (NASDAQ:MNTA) last announced its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.50) EPS for the quarter, meeting the consensus estimate of ($0.50). Momenta Pharmaceuticals had a negative net margin of 39.35% and a negative return on equity of 12.28%. The company had revenue of $23.57 million for the quarter, compared to analyst estimates of $24.64 million. During the same quarter last year, the business earned ($0.31) earnings per share. Momenta Pharmaceuticals’s revenue was down 10.8% compared to the same quarter last year. Analysts anticipate that Momenta Pharmaceuticals will post ($1.50) EPS for the current year.

In other Momenta Pharmaceuticals news, President Craig A. Wheeler sold 16,953 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $16.94, for a total transaction of $287,183.82. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Craig A. Wheeler sold 35,667 shares of the business’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $19.03, for a total transaction of $678,743.01. Following the sale, the president now owns 286,121 shares in the company, valued at $5,444,882.63. The disclosure for this sale can be found here. Insiders have sold a total of 79,663 shares of company stock worth $1,414,498 over the last 90 days. 4.40% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of MNTA. Bank of New York Mellon Corp increased its stake in shares of Momenta Pharmaceuticals by 4.3% during the first quarter. Bank of New York Mellon Corp now owns 793,735 shares of the biotechnology company’s stock valued at $10,596,000 after acquiring an additional 32,760 shares during the period. UBS Asset Management Americas Inc. increased its stake in shares of Momenta Pharmaceuticals by 120.3% during the first quarter. UBS Asset Management Americas Inc. now owns 22,250 shares of the biotechnology company’s stock valued at $297,000 after acquiring an additional 12,151 shares during the period. Karp Capital Management Corp acquired a new position in shares of Momenta Pharmaceuticals during the first quarter valued at approximately $221,000. Ameriprise Financial Inc. increased its stake in shares of Momenta Pharmaceuticals by 5.6% during the first quarter. Ameriprise Financial Inc. now owns 341,666 shares of the biotechnology company’s stock valued at $4,562,000 after acquiring an additional 18,174 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in shares of Momenta Pharmaceuticals by 3.0% during the first quarter. Envestnet Asset Management Inc. now owns 14,275 shares of the biotechnology company’s stock valued at $191,000 after acquiring an additional 411 shares during the period. Institutional investors and hedge funds own 93.80% of the company’s stock.

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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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