Momenta Pharmaceuticals (NASDAQ:MNTA) Upgraded at ValuEngine

ValuEngine upgraded shares of Momenta Pharmaceuticals (NASDAQ:MNTA) from a hold rating to a buy rating in a report issued on Thursday morning, ValuEngine reports.

A number of other brokerages also recently weighed in on MNTA. SunTrust Banks increased their price target on Momenta Pharmaceuticals to and gave the stock a buy rating in a report on Wednesday, January 15th. HC Wainwright raised their price target on shares of Momenta Pharmaceuticals from to and gave the company a buy rating in a report on Tuesday, February 4th. BidaskClub raised shares of Momenta Pharmaceuticals from a buy rating to a strong-buy rating in a research note on Wednesday, December 11th. Goldman Sachs Group started coverage on shares of Momenta Pharmaceuticals in a research report on Thursday, March 12th. They issued a neutral rating and a $29.00 price objective on the stock. Finally, Piper Sandler raised their target price on Momenta Pharmaceuticals from to in a research note on Wednesday, February 5th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $35.00.

Shares of NASDAQ:MNTA traded up $3.81 during midday trading on Thursday, hitting $28.00. The company had a trading volume of 1,478,500 shares, compared to its average volume of 1,308,920. The firm has a fifty day simple moving average of $28.70 and a 200 day simple moving average of $21.32. The stock has a market cap of $3.02 billion, a price-to-earnings ratio of -9.59 and a beta of 1.56. Momenta Pharmaceuticals has a 12 month low of $9.51 and a 12 month high of $34.83.

Momenta Pharmaceuticals (NASDAQ:MNTA) last announced its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.28). Momenta Pharmaceuticals had a negative return on equity of 82.12% and a negative net margin of 1,215.25%. The business had revenue of $8.18 million for the quarter, compared to analyst estimates of $4.98 million. On average, sell-side analysts forecast that Momenta Pharmaceuticals will post -1.97 earnings per share for the current fiscal year.

In other news, CEO Craig A. Wheeler sold 37,228 shares of Momenta Pharmaceuticals stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $28.51, for a total value of $1,061,370.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Elizabeth Stoner sold 4,236 shares of the stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $25.00, for a total value of $105,900.00. Following the transaction, the director now directly owns 39,745 shares of the company’s stock, valued at approximately $993,625. The disclosure for this sale can be found here. Insiders have sold a total of 271,235 shares of company stock worth $7,361,311 in the last 90 days. 3.40% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Man Group plc lifted its stake in shares of Momenta Pharmaceuticals by 18.2% in the 3rd quarter. Man Group plc now owns 145,709 shares of the biotechnology company’s stock valued at $1,888,000 after purchasing an additional 22,433 shares during the last quarter. Amalgamated Bank grew its stake in shares of Momenta Pharmaceuticals by 3.4% in the fourth quarter. Amalgamated Bank now owns 18,956 shares of the biotechnology company’s stock worth $374,000 after acquiring an additional 625 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Momenta Pharmaceuticals by 13.1% in the 4th quarter. State of Alaska Department of Revenue now owns 85,729 shares of the biotechnology company’s stock valued at $1,691,000 after buying an additional 9,902 shares during the period. California State Teachers Retirement System raised its holdings in Momenta Pharmaceuticals by 1.4% in the third quarter. California State Teachers Retirement System now owns 153,807 shares of the biotechnology company’s stock valued at $1,993,000 after acquiring an additional 2,106 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY grew its stake in shares of Momenta Pharmaceuticals by 1.9% during the third quarter. Metropolitan Life Insurance Co NY now owns 32,021 shares of the biotechnology company’s stock worth $415,000 after purchasing an additional 596 shares in the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Momenta Pharmaceuticals Company Profile

Momenta Pharmaceuticals, Inc, a biotechnology company, focuses on the discovery and development of novel biologic therapies for the treatment of rare immune-mediated diseases in the United States. Its novel therapeutic programs include M281, a fully-human anti-neonatal Fc receptor (FcRn), aglycosylated immunoglobulin G (IgG1), and monoclonal antibody to reduce circulating IgG antibodies by blocking endogenous IgG recycling via FcRn; M230, a recombinant trivalent human IgG1 Fc multimer containing three IgG Fc regions joined to maximize activity; and M254, a hyper-sialylated immunoglobulin to treat various inflammatory diseases, including idiopathic thrombocytopenic purpura and chronic inflammatory demyelinating polyneuropathy.

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Analyst Recommendations for Momenta Pharmaceuticals (NASDAQ:MNTA)

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