Momenta Pharmaceuticals (NASDAQ:MNTA)‘s stock had its “buy” rating reissued by research analysts at Stifel Nicolaus in a research report issued on Monday, MarketBeat Ratings reports. They presently have a $43.00 price target on the biotechnology company’s stock, up from their previous price target of $29.00. Stifel Nicolaus’ price objective would suggest a potential upside of 43.33% from the stock’s current price.
Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. upgraded shares of Momenta Pharmaceuticals from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $14.00 to $30.00 in a research note on Tuesday, January 14th. Wells Fargo & Co started coverage on shares of Momenta Pharmaceuticals in a research note on Wednesday, November 6th. They set an “outperform” rating for the company. BidaskClub upgraded shares of Momenta Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. SunTrust Banks raised their price target on shares of Momenta Pharmaceuticals to and gave the stock a “buy” rating in a research note on Wednesday, January 15th. Finally, ValuEngine lowered shares of Momenta Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, December 24th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Momenta Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $28.64.
Shares of MNTA stock opened at $30.00 on Monday. The company has a 50 day moving average of $22.01 and a 200-day moving average of $15.65. Momenta Pharmaceuticals has a 12-month low of $9.51 and a 12-month high of $31.90. The firm has a market cap of $2.79 billion, a P/E ratio of -13.82 and a beta of 2.11.
Momenta Pharmaceuticals (NASDAQ:MNTA) last issued its quarterly earnings results on Thursday, October 31st. The biotechnology company reported ($0.59) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.50) by ($0.09). Momenta Pharmaceuticals had a negative return on equity of 59.82% and a negative net margin of 361.66%. The company had revenue of $6.40 million for the quarter, compared to analysts’ expectations of $5.24 million. During the same quarter in the previous year, the business earned ($0.65) EPS. The company’s revenue for the quarter was down 57.0% on a year-over-year basis. Equities research analysts anticipate that Momenta Pharmaceuticals will post -2.65 earnings per share for the current fiscal year.
In other Momenta Pharmaceuticals news, SVP Santiago Arroyo sold 26,954 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $15.91, for a total value of $428,838.14. Following the completion of the transaction, the senior vice president now directly owns 109,864 shares of the company’s stock, valued at approximately $1,747,936.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Craig A. Wheeler sold 2,601 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $16.16, for a total transaction of $42,032.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 272,688 shares of company stock valued at $5,575,935. 3.40% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC boosted its holdings in Momenta Pharmaceuticals by 611.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 4,770 shares of the biotechnology company’s stock valued at $94,000 after purchasing an additional 4,100 shares during the period. SG Americas Securities LLC boosted its holdings in Momenta Pharmaceuticals by 168.3% in the 4th quarter. SG Americas Securities LLC now owns 22,111 shares of the biotechnology company’s stock valued at $436,000 after purchasing an additional 13,869 shares during the period. Metropolitan Life Insurance Co NY boosted its holdings in Momenta Pharmaceuticals by 1.9% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 32,021 shares of the biotechnology company’s stock valued at $415,000 after purchasing an additional 596 shares during the period. Cubist Systematic Strategies LLC bought a new position in Momenta Pharmaceuticals in the 2nd quarter valued at $693,000. Finally, UBS Asset Management Americas Inc. boosted its holdings in Momenta Pharmaceuticals by 19.8% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 59,794 shares of the biotechnology company’s stock valued at $744,000 after purchasing an additional 9,876 shares during the period. 97.04% of the stock is owned by hedge funds and other institutional investors.
About Momenta Pharmaceuticals
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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