Momenta Pharmaceuticals (MNTA) Trading Up 10.1%

Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) shares were up 10.1% on Monday . The stock traded as high as $15.75 and last traded at $15.75. Approximately 907,700 shares traded hands during trading, a decline of 19% from the average daily volume of 1,122,389 shares. The stock had previously closed at $14.30.

Several brokerages have recently commented on MNTA. Zacks Investment Research upgraded shares of Momenta Pharmaceuticals from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Wednesday, October 4th. BidaskClub upgraded shares of Momenta Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, January 9th. Barclays reiterated an “equal weight” rating and issued a $16.00 target price (down previously from $17.00) on shares of Momenta Pharmaceuticals in a report on Wednesday, October 4th. Cowen set a $15.00 target price on shares of Momenta Pharmaceuticals and gave the company a “hold” rating in a report on Wednesday, November 1st. Finally, Robert W. Baird downgraded shares of Momenta Pharmaceuticals from a “buy” rating to a “hold” rating and lowered their target price for the company from $22.00 to $15.00 in a report on Friday, October 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $15.00.

The firm has a market capitalization of $1,203.10, a price-to-earnings ratio of -18.75 and a beta of 1.66.

Momenta Pharmaceuticals (NASDAQ:MNTA) last posted its quarterly earnings data on Wednesday, November 1st. The biotechnology company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $24.09 million during the quarter, compared to the consensus estimate of $29.58 million. During the same quarter last year, the company posted ($0.26) earnings per share. The firm’s quarterly revenue was down 17.3% compared to the same quarter last year. research analysts expect 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 firm’s 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Elizabeth Stoner sold 5,500 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $13.10, for a total transaction of $72,050.00. Following the sale, 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. Insiders have sold 49,505 shares of company stock valued at $685,923 in the last 90 days. 4.40% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of MNTA. Ameritas Investment Partners Inc. boosted its position in Momenta Pharmaceuticals by 14.9% during the second quarter. Ameritas Investment Partners Inc. now owns 6,446 shares of the biotechnology company’s stock worth $109,000 after purchasing an additional 834 shares during the period. Pinebridge Investments L.P. boosted its position in Momenta Pharmaceuticals by 4.3% during the second quarter. Pinebridge Investments L.P. now owns 8,798 shares of the biotechnology company’s stock worth $149,000 after purchasing an additional 363 shares during the period. Profund Advisors LLC boosted its position in Momenta Pharmaceuticals by 13.1% during the second quarter. Profund Advisors LLC now owns 13,172 shares of the biotechnology company’s stock worth $223,000 after purchasing an additional 1,530 shares during the period. Citigroup Inc. boosted its position in Momenta Pharmaceuticals by 263.2% during the second quarter. Citigroup Inc. now owns 13,736 shares of the biotechnology company’s stock worth $232,000 after purchasing an additional 9,954 shares during the period. Finally, Piedmont Investment Advisors LLC bought a new position in Momenta Pharmaceuticals during the second quarter worth about $244,000. Hedge funds and other institutional investors own 93.40% of the company’s stock.

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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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