State of Alaska Department of Revenue raised its position in Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) by 84.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,184 shares of the biotechnology company’s stock after buying an additional 6,044 shares during the period. State of Alaska Department of Revenue’s holdings in Momenta Pharmaceuticals were worth $222,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the company. Credit Suisse AG increased its position in shares of Momenta Pharmaceuticals by 56.4% in the first quarter. Credit Suisse AG now owns 121,098 shares of the biotechnology company’s stock worth $1,616,000 after buying an additional 43,685 shares during the period. Palo Alto Investors LLC increased its position in shares of Momenta Pharmaceuticals by 1.9% in the first quarter. Palo Alto Investors LLC now owns 1,759,376 shares of the biotechnology company’s stock worth $23,488,000 after buying an additional 31,996 shares during the period. State Street Corp increased its position in shares of Momenta Pharmaceuticals by 30.8% in the first 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 period. Oppenheimer Asset Management Inc. acquired a new position in shares of Momenta Pharmaceuticals during the first quarter worth about $377,000. Finally, Edmond DE Rothschild Holding S.A. acquired a new position in shares of Momenta Pharmaceuticals during the first quarter worth about $5,607,000. 86.62% of the stock is owned by institutional investors and hedge funds.
Momenta Pharmaceuticals, Inc. (NASDAQ MNTA) traded up 2.941% during midday trading on Friday, hitting $16.625. The company had a trading volume of 187,162 shares. The company’s 50 day moving average is $16.96 and its 200 day moving average is $15.62. The stock’s market cap is $1.22 billion. Momenta Pharmaceuticals, Inc. has a 12-month low of $10.50 and a 12-month high of $19.90.
Momenta Pharmaceuticals (NASDAQ:MNTA) last announced its earnings results on Wednesday, August 2nd. The biotechnology company reported ($0.50) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.50). Momenta Pharmaceuticals had a negative return on equity of 12.28% and a negative net margin of 39.35%. The firm had revenue of $23.57 million for the quarter, compared to analysts’ expectations of $24.64 million. During the same quarter in the previous year, the company earned ($0.31) earnings per share. The firm’s quarterly revenue was down 10.8% compared to the same quarter last year. On average, equities analysts anticipate that Momenta Pharmaceuticals, Inc. will post ($1.44) EPS for the current fiscal year.
TRADEMARK VIOLATION NOTICE: This article was first posted by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this article on another publication, it was copied illegally and reposted in violation of US and international copyright laws. The original version of this article can be read at https://stocknewstimes.com/2017/08/04/state-of-alaska-department-of-revenue-has-222000-stake-in-momenta-pharmaceuticals-inc-nasdaqmnta.html.
A number of brokerages have recently issued reports on MNTA. Maxim Group set a $6.00 target price on Momenta Pharmaceuticals and gave the stock a “sell” rating in a research note on Thursday. Stifel Nicolaus reissued a “buy” rating and set a $26.00 target price on shares of Momenta Pharmaceuticals in a research note on Thursday. BidaskClub downgraded Momenta Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Zacks Investment Research downgraded Momenta Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Finally, Barclays PLC downgraded Momenta Pharmaceuticals from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $20.00 to $17.00 in a research note on Monday, May 22nd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $16.89.
In related news, President Craig A. Wheeler sold 4,116 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $15.83, for a total transaction of $65,156.28. Following the sale, the president now owns 281,919 shares of the company’s stock, valued at $4,462,777.77. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Craig A. Wheeler sold 1,852 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $15.77, for a total value of $29,206.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,379 shares of company stock worth $131,825. 4.40% of the stock is owned by corporate insiders.
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).
Want to see what other hedge funds are holding MNTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA).
Receive News & Ratings for Momenta Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Momenta Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
