JPMorgan Chase & Co. increased its position in Momenta Pharmaceuticals Inc. (NASDAQ:MNTA) by 0.8% during the second quarter, Holdings Channel reports. The institutional investor owned 385,050 shares of the biotechnology company’s stock after buying an additional 3,175 shares during the period. JPMorgan Chase & Co. owned about 0.56% of Momenta Pharmaceuticals worth $4,159,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in MNTA. Hartford Investment Management Co. bought a new stake in Momenta Pharmaceuticals during the second quarter worth approximately $160,000. Symons Capital Management Inc. increased its stake in Momenta Pharmaceuticals by 5.9% in the second quarter. Symons Capital Management Inc. now owns 15,050 shares of the biotechnology company’s stock worth $163,000 after buying an additional 835 shares in the last quarter. Capstone Asset Management Co. increased its stake in Momenta Pharmaceuticals by 3.6% in the second quarter. Capstone Asset Management Co. now owns 18,183 shares of the biotechnology company’s stock worth $196,000 after buying an additional 630 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Momenta Pharmaceuticals by 115.4% in the second quarter. BNP Paribas Arbitrage SA now owns 19,816 shares of the biotechnology company’s stock worth $214,000 after buying an additional 10,617 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new stake in Momenta Pharmaceuticals during the second quarter worth approximately $224,000. 81.08% of the stock is currently owned by hedge funds and other institutional investors.
Momenta Pharmaceuticals Inc. (NASDAQ:MNTA) traded down 2.27% during trading on Friday, hitting $12.05. 477,717 shares of the stock were exchanged. The stock’s 50-day moving average price is $11.91 and its 200-day moving average price is $11.07. Momenta Pharmaceuticals Inc. has a 12-month low of $7.86 and a 12-month high of $18.85. The firm’s market cap is $826.59 million.
Momenta Pharmaceuticals (NASDAQ:MNTA) last released its earnings results on Thursday, August 4th. The biotechnology company reported ($0.31) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.32) by $0.01. The firm had revenue of $26.40 million for the quarter, compared to analysts’ expectations of $23.55 million. Momenta Pharmaceuticals had a negative net margin of 126.37% and a negative return on equity of 28.76%. Momenta Pharmaceuticals’s quarterly revenue was down 41.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.04) EPS. On average, equities analysts expect that Momenta Pharmaceuticals Inc. will post ($1.25) EPS for the current year.
A number of research firms recently commented on MNTA. Zacks Investment Research downgraded shares of Momenta Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, October 5th. JPMorgan Chase & Co. reduced their price target on shares of Momenta Pharmaceuticals from $21.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, August 5th. Barclays PLC raised shares of Momenta Pharmaceuticals from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $13.00 to $19.00 in a report on Tuesday, October 11th. Maxim Group downgraded shares of Momenta Pharmaceuticals from a “hold” rating to a “sell” rating and set a $6.00 price target on the stock. in a report on Wednesday, September 7th. Finally, Brean Capital set a $19.00 price target on shares of Momenta Pharmaceuticals and gave the company a “buy” rating in a report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $15.78.
In other Momenta Pharmaceuticals news, President Craig A. Wheeler sold 5,880 shares of the firm’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $12.02, for a total transaction of $70,677.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 6.10% of the company’s stock.
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. It focuses on three product areas: Complex Generics, Biosimilars and Novel Therapeutics. It has developed generic version of Lovenox (enoxaparin sodium injection).
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