SunTrust Banks assumed coverage on shares of Momenta Pharmaceuticals (NASDAQ:MNTA) in a research note released on Tuesday, Briefing.com Automated Import reports. The firm issued a buy rating and a $29.00 price target on the biotechnology company’s stock.

MNTA has been the topic of several other reports. Wells Fargo & Co started coverage on Momenta Pharmaceuticals in a report on Wednesday, November 6th. They issued an outperform rating on the stock. Stifel Nicolaus reissued a buy rating and issued a $29.00 price objective on shares of Momenta Pharmaceuticals in a report on Thursday, October 24th. ValuEngine upgraded Momenta Pharmaceuticals from a hold rating to a buy rating in a research report on Friday, November 1st. HC Wainwright started coverage on Momenta Pharmaceuticals in a research report on Wednesday, September 25th. They issued a buy rating and a $24.00 target price on the stock. Finally, Piper Jaffray Companies set a $35.00 target price on Momenta Pharmaceuticals and gave the company a buy rating in a research report on Tuesday, September 17th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $23.45.

Shares of NASDAQ:MNTA traded down $0.02 during trading on Tuesday, hitting $16.03. The stock had a trading volume of 554,900 shares, compared to its average volume of 516,472. Momenta Pharmaceuticals has a 12-month low of $9.51 and a 12-month high of $16.90. The stock has a 50-day simple moving average of $14.46 and a two-hundred day simple moving average of $12.87. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of -7.90 and a beta of 2.07.

Momenta Pharmaceuticals (NASDAQ:MNTA) last issued its quarterly earnings data on Thursday, October 31st. The biotechnology company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.50) by ($0.09). Momenta Pharmaceuticals had a negative net margin of 361.66% and a negative return on equity of 59.82%. The business had revenue of $6.40 million during the quarter, compared to analyst estimates of $5.24 million. During the same period in the previous year, the business posted ($0.65) earnings per share. The firm’s revenue for the quarter was down 57.0% on a year-over-year basis. Equities research analysts anticipate that Momenta Pharmaceuticals will post -2.58 earnings per share for the current year.

In other Momenta Pharmaceuticals news, CEO Craig A. Wheeler sold 2,601 shares of Momenta Pharmaceuticals stock in a transaction on Friday, November 8th. The stock was sold at an average price of $16.16, for a total value of $42,032.16. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Craig A. Wheeler sold 1,772 shares of Momenta Pharmaceuticals stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $16.49, for a total value of $29,220.28. Following the completion of the sale, the chief executive officer now owns 9,283 shares in the company, valued at approximately $153,076.67. The disclosure for this sale can be found here. In the last quarter, insiders have sold 77,262 shares of company stock worth $1,172,492. 3.40% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Momenta Pharmaceuticals by 68.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,625 shares of the biotechnology company’s stock valued at $95,000 after purchasing an additional 3,088 shares during the period. Algert Global LLC acquired a new stake in shares of Momenta Pharmaceuticals in the second quarter valued at $143,000. Bank of Montreal Can grew its stake in shares of Momenta Pharmaceuticals by 298.3% in the second quarter. Bank of Montreal Can now owns 11,771 shares of the biotechnology company’s stock valued at $146,000 after buying an additional 8,816 shares in the last quarter. CWM Advisors LLC grew its stake in shares of Momenta Pharmaceuticals by 17.2% in the second quarter. CWM Advisors LLC now owns 13,780 shares of the biotechnology company’s stock valued at $172,000 after buying an additional 2,020 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC acquired a new stake in shares of Momenta Pharmaceuticals in the second quarter valued at $187,000. Institutional investors own 96.11% of the company’s stock.

About Momenta Pharmaceuticals

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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Analyst Recommendations for Momenta Pharmaceuticals (NASDAQ:MNTA)

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