Momenta Pharmaceuticals (MNTA) Shares Down 13.7%

Shares of Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) fell 13.7% during trading on Tuesday . The company traded as low as $14.95 and last traded at $15.15. 1,525,800 shares traded hands during trading, an increase of 26% from the average session volume of 1,208,220 shares. The stock had previously closed at $17.55.

A number of brokerages have commented on MNTA. Goldman Sachs Group began coverage on shares of Momenta Pharmaceuticals in a research note on Thursday, September 28th. They set a “neutral” rating and a $18.00 price target for the company. Barclays restated an “equal weight” rating and set a $16.00 price target (down previously from $17.00) on shares of Momenta Pharmaceuticals in a research note on Wednesday, October 4th. Zacks Investment Research upgraded shares of Momenta Pharmaceuticals from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Wednesday, October 4th. Stifel Nicolaus restated a “hold” rating and set a $15.00 price target (down previously from $22.00) on shares of Momenta Pharmaceuticals in a research note on Wednesday, October 4th. Finally, BidaskClub upgraded shares of Momenta Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $15.00.

The company has a market cap of $1,060.00, a P/E ratio of -17.38 and a beta of 1.66.

Momenta Pharmaceuticals (NASDAQ:MNTA) last posted its earnings results on Wednesday, November 1st. The biotechnology company reported ($0.44) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.47) by $0.03. Momenta Pharmaceuticals had a negative net margin of 55.61% and a negative return on equity of 16.20%. The firm had revenue of $24.09 million during the quarter, compared to analyst estimates of $29.58 million. During the same quarter in the prior year, the business posted ($0.26) EPS. The business’s revenue was down 17.3% compared to the same quarter last year. equities analysts predict that Momenta Pharmaceuticals, Inc. will post -1.16 EPS for the current year.

In related news, CEO Craig A. Wheeler sold 35,666 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $14.11, for a total transaction of $503,247.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Elizabeth Stoner sold 5,500 shares of the stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $13.10, for a total transaction of $72,050.00. Following the transaction, the director now owns 13,240 shares of the company’s stock, valued at approximately $173,444. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,505 shares of company stock valued at $685,923. Company insiders own 4.40% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of MNTA. BlackRock Inc. grew its position in Momenta Pharmaceuticals by 7.1% during the second quarter. BlackRock Inc. now owns 9,400,485 shares of the biotechnology company’s stock valued at $158,868,000 after buying an additional 626,415 shares during the period. Renaissance Technologies LLC grew its position in Momenta Pharmaceuticals by 186.4% during the second quarter. Renaissance Technologies LLC now owns 797,400 shares of the biotechnology company’s stock valued at $13,476,000 after buying an additional 519,000 shares during the period. FMR LLC grew its position in Momenta Pharmaceuticals by 3.3% during the second quarter. FMR LLC now owns 11,125,193 shares of the biotechnology company’s stock valued at $188,015,000 after buying an additional 351,743 shares during the period. Ameriprise Financial Inc. grew its position in Momenta Pharmaceuticals by 102.5% during the second quarter. Ameriprise Financial Inc. now owns 691,778 shares of the biotechnology company’s stock valued at $11,691,000 after buying an additional 350,112 shares during the period. Finally, Vanguard Group Inc. grew its position in Momenta Pharmaceuticals by 4.9% during the second quarter. Vanguard Group Inc. now owns 6,243,767 shares of the biotechnology company’s stock valued at $105,519,000 after buying an additional 290,090 shares during the period. Institutional investors own 93.40% of the company’s stock.

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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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