Momenta Pharmaceuticals Inc. (MNTA) Shares Up 2.7%
Momenta Pharmaceuticals Inc. (NASDAQ:MNTA)’s share price shot up 2.7% during mid-day trading on Tuesday . The company traded as high as $12.17 and last traded at $12.10, with a volume of 194,873 shares trading hands. The stock had previously closed at $11.78.
A number of equities analysts have recently weighed in on MNTA shares. Maxim Group downgraded Momenta Pharmaceuticals from a “hold” rating to a “sell” rating and set a $6.00 target price on the stock. in a research note on Wednesday, September 7th. Cowen and Company restated a “hold” rating on shares of Momenta Pharmaceuticals in a research note on Sunday, August 7th. JPMorgan Chase & Co. cut their target price on Momenta Pharmaceuticals from $21.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday, August 5th. Brean Capital set a $19.00 target price on Momenta Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, August 5th. Finally, Goldman Sachs Group Inc. started coverage on Momenta Pharmaceuticals in a research note on Monday, June 6th. They issued a “neutral” rating and a $14.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. Momenta Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $16.22.
The company’s market cap is $822.48 million. The company has a 50 day moving average price of $11.97 and a 200-day moving average price of $10.66.
Momenta Pharmaceuticals (NASDAQ:MNTA) last released its quarterly earnings results on Thursday, August 4th. The biotechnology company reported ($0.31) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.32) by $0.01. Momenta Pharmaceuticals had a negative net margin of 126.37% and a negative return on equity of 28.76%. The company earned $26.40 million during the quarter, compared to the consensus estimate of $23.55 million. During the same period in the prior year, the firm earned ($0.04) earnings per share. Momenta Pharmaceuticals’s revenue was down 41.2% on a year-over-year basis. Equities analysts expect that Momenta Pharmaceuticals Inc. will post ($1.25) earnings per share for the current fiscal year.
In other Momenta Pharmaceuticals news, President Craig A. Wheeler sold 5,880 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $12.02, for a total transaction of $70,677.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.10% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. A.R.T. Advisors LLC increased its position in shares of Momenta Pharmaceuticals by 44.3% in the first quarter. A.R.T. Advisors LLC now owns 76,558 shares of the biotechnology company’s stock worth $707,000 after buying an additional 23,500 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Momenta Pharmaceuticals during the first quarter worth $628,000. Envestnet Asset Management Inc. increased its position in shares of Momenta Pharmaceuticals by 77.8% in the first quarter. Envestnet Asset Management Inc. now owns 21,153 shares of the biotechnology company’s stock worth $195,000 after buying an additional 9,254 shares in the last quarter. Sabby Management LLC increased its position in shares of Momenta Pharmaceuticals by 86.8% in the first quarter. Sabby Management LLC now owns 280,225 shares of the biotechnology company’s stock worth $2,589,000 after buying an additional 130,195 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Momenta Pharmaceuticals by 6.7% in the first quarter. Geode Capital Management LLC now owns 425,511 shares of the biotechnology company’s stock worth $3,931,000 after buying an additional 26,893 shares in the last quarter. 81.08% of the stock is owned by institutional investors and hedge funds.
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. It focuses on three product areas: Complex Generics, Biosimilars and Novel Therapeutics. It has developed generic version of Lovenox (enoxaparin sodium injection).
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