Analysts Set Momenta Pharmaceuticals, Inc. (MNTA) Price Target at $30.00

Shares of Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) have earned an average recommendation of “Hold” from the seven research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $30.00.

MNTA has been the topic of several recent analyst reports. Cantor Fitzgerald set a $24.00 price objective on shares of Momenta Pharmaceuticals and gave the company a “hold” rating in a research report on Wednesday, October 10th. BidaskClub cut shares of Momenta Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 4th. ValuEngine cut shares of Momenta Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 16th. Piper Jaffray Companies initiated coverage on shares of Momenta Pharmaceuticals in a research report on Monday, November 5th. They set an “overweight” rating and a $35.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of Momenta Pharmaceuticals from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research report on Monday, October 15th.

Momenta Pharmaceuticals stock opened at $11.84 on Thursday. Momenta Pharmaceuticals has a 1 year low of $11.48 and a 1 year high of $32.20.

Momenta Pharmaceuticals (NASDAQ:MNTA) last released its quarterly earnings data on Wednesday, November 7th. The biotechnology company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.18. The firm had revenue of $14.88 million for the quarter, compared to analysts’ expectations of $16.99 million. Momenta Pharmaceuticals had a negative net margin of 158.21% and a negative return on equity of 44.72%. The company’s revenue for the quarter was down 38.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.44) earnings per share. On average, equities research analysts forecast that Momenta Pharmaceuticals will post -2.69 earnings per share for the current year.

In related news, CEO Craig A. Wheeler sold 4,374 shares of the firm’s stock in a transaction on Monday, November 12th. The shares were sold at an average price of $13.50, for a total value of $59,049.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 8,136 shares of company stock valued at $106,026. 4.80% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Amalgamated Bank boosted its stake in Momenta Pharmaceuticals by 16.1% during the second quarter. Amalgamated Bank now owns 12,544 shares of the biotechnology company’s stock worth $257,000 after buying an additional 1,739 shares during the period. State of Wisconsin Investment Board boosted its stake in Momenta Pharmaceuticals by 2.7% during the second quarter. State of Wisconsin Investment Board now owns 78,166 shares of the biotechnology company’s stock worth $1,598,000 after buying an additional 2,066 shares during the period. Rhumbline Advisers boosted its stake in Momenta Pharmaceuticals by 1.6% during the second quarter. Rhumbline Advisers now owns 185,957 shares of the biotechnology company’s stock worth $3,803,000 after buying an additional 2,913 shares during the period. Aperio Group LLC boosted its stake in Momenta Pharmaceuticals by 17.0% during the second quarter. Aperio Group LLC now owns 21,371 shares of the biotechnology company’s stock worth $437,000 after buying an additional 3,102 shares during the period. Finally, MetLife Investment Advisors LLC boosted its stake in Momenta Pharmaceuticals by 10.7% during the second quarter. MetLife Investment Advisors LLC now owns 35,673 shares of the biotechnology company’s stock worth $730,000 after buying an additional 3,455 shares during the period. 94.34% of the stock is owned by hedge funds and other institutional investors.

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.

See Also: Inflation

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 reddit