Momenta Pharmaceuticals (MNTA) Hits New 52-Week High and Low at $22.85

Shares of Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) hit a new 52-week high and low during trading on Thursday . The stock traded as low as $22.85 and last traded at $22.70, with a volume of 1209 shares trading hands. The stock had previously closed at $22.60.

MNTA has been the subject of several research reports. BidaskClub downgraded Momenta Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, March 27th. ValuEngine upgraded Momenta Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, February 23rd. Stifel Nicolaus restated a “hold” rating and issued a $18.00 target price on shares of Momenta Pharmaceuticals in a research note on Tuesday, January 30th. Finally, TheStreet downgraded Momenta Pharmaceuticals from a “c-” rating to a “d” rating in a research note on Tuesday, May 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $15.13.

The company has a market cap of $1.68 billion, a PE ratio of -18.92 and a beta of 1.63.

Momenta Pharmaceuticals (NASDAQ:MNTA) last released its quarterly earnings results on Tuesday, May 8th. The biotechnology company reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.19). The company had revenue of $4.85 million for the quarter, compared to analyst estimates of $15.63 million. Momenta Pharmaceuticals had a negative net margin of 88.77% and a negative return on equity of 28.56%. Momenta Pharmaceuticals’s revenue for the quarter was down 81.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.46) EPS. equities research analysts anticipate that Momenta Pharmaceuticals, Inc. will post -1.34 earnings per share for the current year.

In other Momenta Pharmaceuticals news, CEO Craig A. Wheeler sold 1,772 shares of Momenta Pharmaceuticals stock in a transaction dated Thursday, May 10th. The stock was sold at an average price of $21.86, for a total transaction of $38,735.92. Following the completion of the transaction, the chief executive officer now owns 198,987 shares in the company, valued at approximately $4,349,855.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Craig A. Wheeler sold 2,601 shares of Momenta Pharmaceuticals stock in a transaction dated Tuesday, May 8th. The shares were sold at an average price of $20.21, for a total value of $52,566.21. Following the transaction, the chief executive officer now owns 203,360 shares of the company’s stock, valued at approximately $4,109,905.60. The disclosure for this sale can be found here. Insiders have sold a total of 174,558 shares of company stock valued at $3,512,669 in the last quarter. Company insiders own 4.40% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Comerica Bank boosted its stake in Momenta Pharmaceuticals by 3.2% during the 1st quarter. Comerica Bank now owns 80,758 shares of the biotechnology company’s stock valued at $1,651,000 after purchasing an additional 2,496 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Momenta Pharmaceuticals by 16.7% during the 1st quarter. Russell Investments Group Ltd. now owns 21,669 shares of the biotechnology company’s stock worth $393,000 after buying an additional 3,100 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Momenta Pharmaceuticals by 2.4% during the 4th quarter. California Public Employees Retirement System now owns 136,400 shares of the biotechnology company’s stock worth $1,903,000 after buying an additional 3,200 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Momenta Pharmaceuticals by 2.2% during the 1st quarter. Legal & General Group Plc now owns 159,273 shares of the biotechnology company’s stock worth $2,871,000 after buying an additional 3,438 shares in the last quarter. Finally, LS Investment Advisors LLC lifted its position in shares of Momenta Pharmaceuticals by 59.8% during the 4th quarter. LS Investment Advisors LLC now owns 9,300 shares of the biotechnology company’s stock worth $130,000 after buying an additional 3,479 shares in the last quarter. Institutional investors and hedge funds own 96.43% of the company’s stock.

About Momenta Pharmaceuticals

Momenta Pharmaceuticals, Inc, a biotechnology company, focuses on developing generic versions of complex drugs, biosimilars, and novel therapeutics for autoimmune diseases in the United States. The company's complex generics programs include Enoxaparin sodium injection, a generic version of Lovenox that is indicated for the prevention and treatment of deep vein thrombosis, as well as supports the treatment of acute coronary syndromes; GLATOPA, a generic version of once-daily COPAXONE for the treatment of patients with relapsing-remitting multiple sclerosis; and GLATOPA, a generic product candidate for three-times-weekly COPAXONE.

Receive News & Ratings for Momenta Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Momenta Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.



Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit