Momenta Pharmaceuticals, Inc. (MNTA) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) from a hold rating to a buy rating in a report published on Wednesday. They currently have $20.00 price target on the biotechnology company’s stock.
According to Zacks, “Momenta’s sales of Glatopa 20mg continue to do well and have captured approximately 40% of the market in the U.S. We are pleased with the company’s efforts to develop biosimilars given the potential in the market with recent approvals. In addition, a potential approval of M923 will boost investor confidence. The company has collaborated with Mylan to develop, manufacture and commercialize six of its current biosimilar candidates. The progress with the autoimmune portfolio is also impressive However, the ANDA approval for Glatopa 40mg is contingent on the satisfactory resolution of the compliance observations stated in the warning letter issued by the FDA, resulting in a delay of approval. The warning letter will remain a major over hang on the shares till the issue is solved. Shares of the company have outperformed the industry in the last twelve months.”
Other equities analysts have also issued research reports about the stock. Stifel Nicolaus reaffirmed a buy rating and set a $26.00 target price on shares of Momenta Pharmaceuticals in a report on Thursday, August 3rd. BidaskClub lowered shares of Momenta Pharmaceuticals from a buy rating to a hold rating in a report on Thursday, July 6th. Maxim Group set a $6.00 target price on shares of Momenta Pharmaceuticals and gave the company a sell rating in a report on Thursday, August 3rd. Finally, Goldman Sachs Group, Inc. (The) assumed coverage on shares of Momenta Pharmaceuticals in a report on Thursday, September 28th. They set a neutral rating and a $18.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $15.00.
Shares of Momenta Pharmaceuticals (NASDAQ:MNTA) traded down 6.16% during trading on Wednesday, hitting $12.95. 2,184,170 shares of the stock were exchanged. The firm’s market capitalization is $959.03 million. The stock’s 50 day moving average price is $16.69 and its 200 day moving average price is $15.79. Momenta Pharmaceuticals has a 52 week low of $10.75 and a 52 week high of $19.90.
Momenta Pharmaceuticals (NASDAQ:MNTA) last released its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.50) EPS for the quarter, meeting the Thomson Reuters’ 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 company had revenue of $23.57 million for the quarter, compared to analyst estimates of $24.64 million. During the same quarter last year, the firm earned ($0.31) EPS. The firm’s quarterly revenue was down 10.8% compared to the same quarter last year. On average, equities analysts predict that Momenta Pharmaceuticals will post ($1.53) earnings per share for the current year.
In other Momenta Pharmaceuticals news, President Craig A. Wheeler sold 4,116 shares of the stock in a transaction on Monday, August 21st. The shares were sold at an average price of $15.07, for a total transaction of $62,028.12. Following the completion of the sale, the president now owns 269,231 shares of the company’s stock, valued at approximately $4,057,311.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Craig A. Wheeler sold 35,667 shares of the 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 sale, the president now directly owns 286,121 shares of the company’s stock, valued at approximately $5,444,882.63. 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. 4.40% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in MNTA. Nationwide Fund Advisors boosted its position in Momenta Pharmaceuticals by 179.3% during the 1st quarter. Nationwide Fund Advisors now owns 112,712 shares of the biotechnology company’s stock valued at $1,505,000 after buying an additional 72,361 shares during the period. Strs Ohio purchased a new stake in Momenta Pharmaceuticals during the 1st quarter valued at $221,000. Russell Investments Group Ltd. boosted its position in Momenta Pharmaceuticals by 749.5% during the 1st quarter. Russell Investments Group Ltd. now owns 160,960 shares of the biotechnology company’s stock valued at $2,148,000 after buying an additional 142,012 shares during the period. Great West Life Assurance Co. Can boosted its position in Momenta Pharmaceuticals by 5.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 89,021 shares of the biotechnology company’s stock valued at $1,183,000 after buying an additional 4,936 shares during the period. Finally, First Trust Advisors LP purchased a new stake in Momenta Pharmaceuticals during the 1st quarter valued at $1,002,000. 93.86% of the stock is owned by institutional investors and hedge funds.
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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