Momenta Pharmaceuticals (NASDAQ:MNTA) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

A number of other equities research analysts have also weighed in on the company. Stifel Nicolaus reaffirmed a “hold” rating and issued a $15.00 price objective (down previously from $22.00) on shares of Momenta Pharmaceuticals in a report on Wednesday, October 4th. Zacks Investment Research lowered Momenta Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Barclays reaffirmed an “equal weight” rating and issued a $16.00 price objective (down previously from $17.00) on shares of Momenta Pharmaceuticals in a report on Wednesday, October 4th. Goldman Sachs Group reissued a “neutral” rating and set a $14.00 price target (down previously from $18.00) on shares of Momenta Pharmaceuticals in a research note on Thursday, October 5th. Finally, Cowen set a $15.00 price target on Momenta Pharmaceuticals and gave the stock a “hold” rating in a research note on Wednesday, November 1st. Three equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. The company has an average rating of “Hold” and a consensus price target of $15.00.

Shares of Momenta Pharmaceuticals (MNTA) traded up $0.15 on Thursday, reaching $12.55. The company’s stock had a trading volume of 575,559 shares, compared to its average volume of 529,737. Momenta Pharmaceuticals has a 12 month low of $11.85 and a 12 month high of $19.90.

Momenta Pharmaceuticals (NASDAQ:MNTA) last announced its quarterly earnings data on Wednesday, November 1st. The biotechnology company reported ($0.44) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.47) by $0.03. Momenta Pharmaceuticals had a negative return on equity of 16.20% and a negative net margin of 55.61%. The company had revenue of $24.09 million for the quarter, compared to analyst estimates of $29.58 million. During the same quarter in the previous year, the company earned ($0.26) EPS. The firm’s revenue for the quarter was down 17.3% compared to the same quarter last year. equities research analysts forecast that Momenta Pharmaceuticals will post -1.16 earnings per share for the current fiscal year.

In other news, President Craig A. Wheeler sold 35,667 shares of the company’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $19.03, for a total transaction of $678,743.01. Following the completion of the sale, the president now directly owns 286,121 shares in the company, valued at approximately $5,444,882.63. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Craig A. Wheeler sold 4,116 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $13.35, for a total transaction of $54,948.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,006 shares of company stock worth $789,369. 4.40% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. New York State Common Retirement Fund boosted its position in Momenta Pharmaceuticals by 9.4% during the 2nd quarter. New York State Common Retirement Fund now owns 286,453 shares of the biotechnology company’s stock worth $4,841,000 after purchasing an additional 24,715 shares during the period. BlackRock Inc. boosted its position in Momenta Pharmaceuticals by 7.1% during the 2nd quarter. BlackRock Inc. now owns 9,400,485 shares of the biotechnology company’s stock worth $158,868,000 after purchasing an additional 626,415 shares during the period. Great West Life Assurance Co. Can boosted its position in Momenta Pharmaceuticals by 8.4% during the 2nd quarter. Great West Life Assurance Co. Can now owns 96,471 shares of the biotechnology company’s stock worth $1,625,000 after purchasing an additional 7,450 shares during the period. Rhumbline Advisers boosted its position in Momenta Pharmaceuticals by 8.6% during the 2nd quarter. Rhumbline Advisers now owns 140,215 shares of the biotechnology company’s stock worth $2,370,000 after purchasing an additional 11,128 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in Momenta Pharmaceuticals by 22.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 358,055 shares of the biotechnology company’s stock worth $6,052,000 after purchasing an additional 64,817 shares during the period. 93.45% of the stock is owned by hedge funds and other institutional investors.

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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. The Company has developed generic version of LOVENOX (enoxaparin sodium injection) and COPAXONE (glatiramer acetate injection).

Analyst Recommendations for Momenta Pharmaceuticals (NASDAQ:MNTA)

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