Momenta Pharmaceuticals Inc. (NASDAQ:MNTA) has been given a consensus recommendation of “Hold” by the nine ratings firms that are covering the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $16.29.
Several analysts recently weighed in on MNTA shares. Maxim Group lowered Momenta Pharmaceuticals from a “hold” rating to a “sell” rating and set a $6.00 price objective for the company. in a report on Wednesday, September 7th. Brean Capital set a $19.00 price objective on Momenta Pharmaceuticals and gave the company a “buy” rating in a report on Friday, August 5th. Cowen and Company reissued a “hold” rating on shares of Momenta Pharmaceuticals in a report on Sunday, August 7th. JPMorgan Chase & Co. lowered their price objective on Momenta Pharmaceuticals from $21.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, August 5th. Finally, Goldman Sachs Group Inc. started coverage on Momenta Pharmaceuticals in a report on Monday, June 6th. They issued a “neutral” rating and a $14.00 price objective for the company.
Momenta Pharmaceuticals (NASDAQ:MNTA) opened at 11.87 on Tuesday. The stock’s market capitalization is $814.25 million. Momenta Pharmaceuticals has a 1-year low of $7.86 and a 1-year high of $18.85. The company has a 50-day moving average price of $12.03 and a 200 day moving average price of $10.72.
Momenta Pharmaceuticals (NASDAQ:MNTA) last announced its quarterly earnings data on Thursday, August 4th. The biotechnology company reported ($0.31) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.32) by $0.01. The firm earned $26.40 million during the quarter, compared to analyst estimates of $23.55 million. Momenta Pharmaceuticals had a negative return on equity of 28.76% and a negative net margin of 126.37%. Momenta Pharmaceuticals’s quarterly revenue was down 41.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.04) earnings per share. On average, equities analysts predict that Momenta Pharmaceuticals will post ($1.25) EPS for the current year.
In other news, President Craig A. Wheeler sold 5,880 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $12.02, for a total transaction of $70,677.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 6.10% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in shares of Momenta Pharmaceuticals during the fourth quarter valued at about $17,153,000. Apex Capital Management increased its position in shares of Momenta Pharmaceuticals by 74.5% in the first quarter. Apex Capital Management now owns 1,937,344 shares of the biotechnology company’s stock valued at $17,901,000 after buying an additional 827,272 shares in the last quarter. Teachers Advisors Inc. increased its position in shares of Momenta Pharmaceuticals by 16.7% in the first quarter. Teachers Advisors Inc. now owns 346,507 shares of the biotechnology company’s stock valued at $3,202,000 after buying an additional 49,480 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Momenta Pharmaceuticals by 1.9% in the first quarter. Prudential Financial Inc. now owns 147,062 shares of the biotechnology company’s stock valued at $1,359,000 after buying an additional 2,700 shares in the last quarter. Finally, BlackRock Group LTD increased its position in shares of Momenta Pharmaceuticals by 11.9% in the first quarter. BlackRock Group LTD now owns 107,038 shares of the biotechnology company’s stock valued at $989,000 after buying an additional 11,403 shares in the last quarter. Institutional investors and hedge funds own 81.08% of the company’s stock.
About Momenta Pharmaceuticals
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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