Shares of Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) have been given a consensus rating of “Hold” by the eleven brokerages that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $17.00.
MNTA has been the topic of several recent research reports. BidaskClub cut shares of Momenta Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Aegis reissued a “hold” rating and set a $17.00 target price on shares of Momenta Pharmaceuticals in a research report on Wednesday, May 3rd. Barclays PLC cut shares of Momenta Pharmaceuticals from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $20.00 to $17.00 in a research report on Monday, May 22nd. Cowen and Company reaffirmed a “hold” rating and issued a $15.00 price target on shares of Momenta Pharmaceuticals in a report on Wednesday, May 3rd. Finally, Zacks Investment Research cut shares of Momenta Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th.
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Momenta Pharmaceuticals (MNTA) remained flat at $16.55 during mid-day trading on Monday. The company had a trading volume of 752,984 shares. The firm’s market cap is $1.23 billion. The stock’s 50 day moving average price is $16.96 and its 200-day moving average price is $15.62. Momenta Pharmaceuticals has a 52-week low of $10.50 and a 52-week high of $19.90.
Momenta Pharmaceuticals (NASDAQ:MNTA) last announced its quarterly earnings results on Tuesday, May 2nd. The biotechnology company reported ($0.46) EPS for the quarter, topping the consensus estimate of ($1.09) by $0.63. The business had revenue of $26.61 million for the quarter, compared to analysts’ expectations of $21.29 million. Momenta Pharmaceuticals had a negative net margin of 24.70% and a negative return on equity of 8.20%. The business’s quarterly revenue was up 34.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.35) EPS. On average, equities research analysts forecast that Momenta Pharmaceuticals will post ($1.45) EPS for the current year.
In other Momenta Pharmaceuticals news, President Craig A. Wheeler sold 4,116 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $15.83, for a total transaction of $65,156.28. Following the completion of the transaction, the president now owns 281,919 shares in the company, valued at approximately $4,462,777.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 8,379 shares of company stock valued at $131,825 in the last 90 days. Company insiders own 4.40% of the company’s stock.
A number of large investors have recently modified their holdings of MNTA. BlackRock Inc. boosted its stake in Momenta Pharmaceuticals by 64,825.8% in the first quarter. BlackRock Inc. now owns 8,774,070 shares of the biotechnology company’s stock valued at $117,134,000 after buying an additional 8,760,556 shares in the last quarter. Norges Bank acquired a new position in Momenta Pharmaceuticals during the fourth quarter valued at approximately $22,650,000. State Street Corp raised its position in Momenta Pharmaceuticals by 30.8% in the first quarter. State Street Corp now owns 2,455,449 shares of the biotechnology company’s stock valued at $32,776,000 after buying an additional 577,504 shares during the last quarter. Acadian Asset Management LLC raised its position in Momenta Pharmaceuticals by 322.9% in the second quarter. Acadian Asset Management LLC now owns 696,138 shares of the biotechnology company’s stock valued at $11,762,000 after buying an additional 531,525 shares during the last quarter. Finally, Foresite Capital Management III LLC purchased a new stake in Momenta Pharmaceuticals during the first quarter worth about $5,749,000. 86.62% of the stock is currently owned by hedge funds and other 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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