Momenta Pharmaceuticals (NASDAQ:MNTA) was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a report released on Tuesday, The Fly reports. The firm presently has a $30.00 price objective on the biotechnology company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 18.30% from the company’s previous close.
A number of other equities research analysts have also weighed in on MNTA. BidaskClub upgraded shares of Momenta Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 11th. ValuEngine lowered shares of Momenta Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, December 24th. Wells Fargo & Co initiated coverage on shares of Momenta Pharmaceuticals in a report on Wednesday, November 6th. They issued an “outperform” rating for the company. Stifel Nicolaus restated a “buy” rating and issued a $29.00 price objective on shares of Momenta Pharmaceuticals in a report on Thursday, October 24th. Finally, Piper Jaffray Companies set a $35.00 price objective on shares of Momenta Pharmaceuticals and gave the stock a “buy” rating in a report on Tuesday, September 17th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Momenta Pharmaceuticals has an average rating of “Buy” and an average price target of $24.27.
Shares of MNTA opened at $25.36 on Tuesday. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of -12.49 and a beta of 2.11. Momenta Pharmaceuticals has a fifty-two week low of $9.51 and a fifty-two week high of $25.64. The firm has a 50 day moving average price of $18.59 and a 200-day moving average price of $14.45.
Momenta Pharmaceuticals (NASDAQ:MNTA) last announced its quarterly earnings data on Thursday, October 31st. The biotechnology company reported ($0.59) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.50) by ($0.09). The business had revenue of $6.40 million during the quarter, compared to the consensus estimate of $5.24 million. Momenta Pharmaceuticals had a negative return on equity of 59.82% and a negative net margin of 361.66%. The company’s revenue was down 57.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.65) earnings per share. Equities research analysts forecast that Momenta Pharmaceuticals will post -2.66 EPS for the current year.
In related news, CEO Craig A. Wheeler sold 66,666 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $17.00, for a total transaction of $1,133,322.00. Following the completion of the sale, the chief executive officer now directly owns 79,343 shares in the company, valued at approximately $1,348,831. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Santiago Arroyo sold 6,318 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $13.83, for a total transaction of $87,377.94. Following the sale, the senior vice president now owns 33,272 shares of the company’s stock, valued at $460,151.76. The disclosure for this sale can be found here. Insiders have sold a total of 176,475 shares of company stock valued at $2,851,495 over the last quarter. 3.40% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in Momenta Pharmaceuticals by 2.9% in the 2nd quarter. BlackRock Inc. now owns 15,606,505 shares of the biotechnology company’s stock worth $194,302,000 after purchasing an additional 438,679 shares in the last quarter. Vanguard Group Inc. raised its holdings in Momenta Pharmaceuticals by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 10,436,152 shares of the biotechnology company’s stock worth $129,931,000 after purchasing an additional 129,762 shares in the last quarter. Perceptive Advisors LLC raised its holdings in Momenta Pharmaceuticals by 1.0% in the 2nd quarter. Perceptive Advisors LLC now owns 2,905,000 shares of the biotechnology company’s stock worth $36,167,000 after purchasing an additional 30,000 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in Momenta Pharmaceuticals by 1,147.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,581,229 shares of the biotechnology company’s stock worth $33,453,000 after purchasing an additional 2,374,229 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Momenta Pharmaceuticals by 0.9% in the 2nd quarter. Northern Trust Corp now owns 1,275,473 shares of the biotechnology company’s stock worth $15,879,000 after purchasing an additional 11,012 shares in the last quarter. Institutional investors own 96.94% of the company’s stock.
Momenta Pharmaceuticals Company Profile
Momenta Pharmaceuticals, Inc, a biotechnology company, focuses on the discovery and development of novel biologic therapies for the treatment of rare immune-mediated diseases in the United States. Its novel therapeutic programs include M281, a fully-human anti-neonatal Fc receptor (FcRn), aglycosylated immunoglobulin G (IgG1), and monoclonal antibody to reduce circulating IgG antibodies by blocking endogenous IgG recycling via FcRn; M230, a recombinant trivalent human IgG1 Fc multimer containing three IgG Fc regions joined to maximize activity; and M254, a hyper-sialylated immunoglobulin to treat various inflammatory diseases, including idiopathic thrombocytopenic purpura and chronic inflammatory demyelinating polyneuropathy.
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