Momenta Pharmaceuticals, Inc. (MNTA) Stock Rating Lowered by Robert W. Baird
Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) was downgraded by research analysts at Robert W. Baird from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday. They presently have a $15.00 price objective on the biotechnology company’s stock, down from their prior price objective of $22.00. Robert W. Baird’s target price would suggest a potential upside of 8.70% from the company’s previous close.
Several other research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Momenta Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. BidaskClub upgraded shares of Momenta Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, June 23rd. Stifel Nicolaus reiterated a “hold” rating and set a $15.00 price objective (down from $22.00) on shares of Momenta Pharmaceuticals in a research report on Wednesday. Maxim Group set a $6.00 price objective on shares of Momenta Pharmaceuticals and gave the stock a “sell” rating in a research report on Thursday, August 3rd. Finally, Barclays PLC reiterated an “equal weight” rating and set a $16.00 price objective (down from $17.00) on shares of Momenta Pharmaceuticals in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $15.00.
Momenta Pharmaceuticals (NASDAQ MNTA) traded down 4.167% during midday trading on Friday, reaching $13.225. The company had a trading volume of 1,023,150 shares. The company’s 50 day moving average is $16.76 and its 200-day moving average is $15.80. Momenta Pharmaceuticals has a 52-week low of $10.75 and a 52-week high of $19.90. The company’s market capitalization is $979.39 million.
Momenta Pharmaceuticals (NASDAQ:MNTA) last posted its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.50) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.50). The firm had revenue of $23.57 million for the quarter, compared to analyst estimates of $24.64 million. Momenta Pharmaceuticals had a negative net margin of 39.35% and a negative return on equity of 12.28%. The firm’s quarterly revenue was down 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.31) earnings per share. Equities analysts expect that Momenta Pharmaceuticals will post ($1.53) earnings per share for the current fiscal year.
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In other Momenta Pharmaceuticals news, President Craig A. Wheeler sold 35,667 shares of Momenta Pharmaceuticals stock in a transaction on Thursday, September 28th. The shares were 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 owns 286,121 shares of the company’s stock, valued at approximately $5,444,882.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Craig A. Wheeler sold 16,953 shares of Momenta Pharmaceuticals stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $16.94, for a total transaction of $287,183.82. The disclosure for this sale can be found here. Insiders have sold a total of 79,663 shares of company stock valued at $1,414,498 in the last three months. Company insiders own 4.40% of the company’s stock.
Large investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. boosted its stake in shares of Momenta Pharmaceuticals by 14.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 6,446 shares of the biotechnology company’s stock valued at $109,000 after buying an additional 834 shares during the period. Tortoise Investment Management LLC acquired a new stake in shares of Momenta Pharmaceuticals during the 2nd quarter valued at $114,000. Pinebridge Investments L.P. boosted its stake in shares of Momenta Pharmaceuticals by 4.3% during the 2nd quarter. Pinebridge Investments L.P. now owns 8,798 shares of the biotechnology company’s stock valued at $149,000 after buying an additional 363 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Momenta Pharmaceuticals during the 1st quarter valued at $158,000. Finally, Profund Advisors LLC boosted its stake in shares of Momenta Pharmaceuticals by 13.1% during the 2nd quarter. Profund Advisors LLC now owns 13,172 shares of the biotechnology company’s stock valued at $223,000 after buying an additional 1,530 shares during the period. 93.86% of the stock is owned by institutional investors.
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).
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