Momenta Pharmaceuticals, Inc. (MNTA) Now Covered by Goldman Sachs Group, Inc. (The)
Goldman Sachs Group, Inc. (The) assumed coverage on shares of Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) in a research report released on Thursday morning, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $18.00 price target on the biotechnology company’s stock.
Other research analysts have also recently issued reports about the stock. BidaskClub raised shares of Momenta Pharmaceuticals from a hold rating to a buy rating in a report on Friday, June 23rd. Stifel Nicolaus reiterated a buy rating and issued a $26.00 price target on shares of Momenta Pharmaceuticals in a research report on Thursday, August 3rd. Zacks Investment Research cut Momenta Pharmaceuticals from a hold rating to a sell rating in a research note on Friday, August 4th. Finally, Maxim Group set a $6.00 price target on Momenta Pharmaceuticals and gave the company a sell rating in a research note on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $16.78.
Shares of Momenta Pharmaceuticals (NASDAQ MNTA) opened at 18.50 on Thursday. The firm’s market capitalization is $1.37 billion. The firm’s 50-day moving average price is $16.43 and its 200-day moving average price is $15.55. Momenta Pharmaceuticals has a 12-month low of $10.75 and a 12-month high of $19.90.
Momenta Pharmaceuticals (NASDAQ:MNTA) last issued its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.50) earnings per share for the quarter, hitting 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 business had revenue of $23.57 million during the quarter, compared to analysts’ expectations of $24.64 million. During the same quarter in the previous year, the company earned ($0.31) EPS. The business’s revenue was down 10.8% on a year-over-year basis. Equities analysts predict that Momenta Pharmaceuticals will post ($1.39) earnings per share for the current fiscal year.
In other Momenta Pharmaceuticals news, President Craig A. Wheeler sold 16,953 shares of the company’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $16.94, for a total transaction of $287,183.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Craig A. Wheeler sold 4,116 shares of the company’s stock in a transaction on Monday, August 21st. The stock was sold at an average price of $15.07, for a total value of $62,028.12. Following the sale, the president now owns 269,231 shares of the company’s stock, valued at $4,057,311.17. The disclosure for this sale can be found here. Insiders have sold a total of 43,996 shares of company stock worth $735,755 in the last quarter. 4.40% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Momenta Pharmaceuticals by 64,825.8% during the 1st quarter. BlackRock Inc. now owns 8,774,070 shares of the biotechnology company’s stock worth $117,134,000 after buying an additional 8,760,556 shares in the last quarter. State Street Corp lifted its position in shares of Momenta Pharmaceuticals by 30.8% during the 1st quarter. State Street Corp now owns 2,455,449 shares of the biotechnology company’s stock worth $32,776,000 after buying an additional 577,504 shares during the last quarter. Acadian Asset Management LLC lifted its position in shares of Momenta Pharmaceuticals by 322.9% during the 2nd quarter. Acadian Asset Management LLC now owns 696,138 shares of the biotechnology company’s stock worth $11,762,000 after buying an additional 531,525 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Momenta Pharmaceuticals by 186.4% during the 2nd quarter. Renaissance Technologies LLC now owns 797,400 shares of the biotechnology company’s stock worth $13,476,000 after buying an additional 519,000 shares during the last quarter. Finally, Foresite Capital Management III LLC bought a new stake in shares of Momenta Pharmaceuticals during the 1st quarter worth $5,749,000. Institutional investors own 93.86% of the company’s stock.
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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