According to Zacks, “Momenta focus on developing generic versions of complex drugs and biosimilars. The company received a major boost with the FDA’s approval of Glatopa, a generic version of Teva’s Copaxone (20 mg/mL). The drug has captured nearly 38% of the once-daily Copaxone 20 mg market. Momenta’s efforts to develop its biosimilars pipeline have been impressive. We are also encouraged by the company’s collaboration with Sandoz for Glatopa. Moreover, the company’s partnership with Mylan for six of its current biosimilar candidates has bright prospects. However, we remain concerned about pricing pressure in the generic market. Also, the company received a setback when it decided to discontinue patient enrolment in a phase II study on necuparanib on the recommendation of an independent Data Safety Monitoring Board following the outcome of a planned interim futility analysis.”
Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. lowered their price objective on shares of Momenta Pharmaceuticals from $21.00 to $15.00 and set an overweight rating on the stock in a research report on Friday, August 5th. Cowen and Company restated a hold rating on shares of Momenta Pharmaceuticals in a research report on Sunday, August 7th. Brean Capital set a $19.00 price objective on shares of Momenta Pharmaceuticals and gave the company a buy rating in a research report on Friday, August 5th. Finally, Maxim Group cut shares of Momenta Pharmaceuticals from a hold rating to a sell rating and set a $6.00 price objective on the stock. in a research report on Wednesday, September 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. Momenta Pharmaceuticals presently has an average rating of Hold and a consensus price target of $15.67.
Momenta Pharmaceuticals (NASDAQ:MNTA) opened at 11.765 on Wednesday. The firm’s market cap is $807.04 million. The company has a 50-day moving average of $11.92 and a 200 day moving average of $11.00. Momenta Pharmaceuticals has a 12-month low of $7.86 and a 12-month high of $18.85.
Momenta Pharmaceuticals (NASDAQ:MNTA) last posted 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 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%. The business’s quarterly revenue was down 41.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.04) EPS. Equities analysts expect that Momenta Pharmaceuticals will post ($1.25) EPS for the current fiscal year.
In other Momenta Pharmaceuticals news, President Craig A. Wheeler sold 5,880 shares of the firm’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $12.02, for a total value of $70,677.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 6.10% of the company’s stock.
Large investors have recently made changes to their positions in the company. Teachers Advisors Inc. raised its stake 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 worth $3,202,000 after buying an additional 49,480 shares during the period. Prudential Financial Inc. raised its stake 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 worth $1,359,000 after buying an additional 2,700 shares during the period. BlackRock Group LTD raised its stake 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 worth $989,000 after buying an additional 11,403 shares during the period. BlackRock Fund Advisors raised its stake in shares of Momenta Pharmaceuticals by 0.9% in the first quarter. BlackRock Fund Advisors now owns 4,712,349 shares of the biotechnology company’s stock worth $43,542,000 after buying an additional 39,777 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Momenta Pharmaceuticals by 69.6% in the first quarter. JPMorgan Chase & Co. now owns 381,875 shares of the biotechnology company’s stock worth $3,528,000 after buying an additional 156,725 shares during the period. 81.08% of the stock is currently owned by institutional investors and hedge funds.
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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