Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) has been given a consensus rating of “Hold” by the thirteen ratings firms that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating and nine have issued a hold rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $14.44.
MNTA has been the subject of a number of recent research reports. Goldman Sachs Group, Inc. (The) initiated coverage on Momenta Pharmaceuticals in a research note on Thursday, September 28th. They set a “neutral” rating and a $18.00 price objective for the company. Zacks Investment Research downgraded Momenta Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Robert W. Baird downgraded Momenta Pharmaceuticals from a “buy” rating to a “hold” rating and cut their price objective for the company from $22.00 to $15.00 in a research note on Friday, October 6th. Stifel Nicolaus reiterated a “hold” rating and set a $15.00 price objective (down from $22.00) on shares of Momenta Pharmaceuticals in a research note on Wednesday, October 4th. Finally, Maxim Group set a $6.00 price objective on Momenta Pharmaceuticals and gave the company a “sell” rating in a research note on Thursday, August 3rd.
In other Momenta Pharmaceuticals news, President Craig A. Wheeler sold 35,667 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $19.03, for a total value of $678,743.01. Following the completion of the transaction, the president now directly owns 286,121 shares in the company, valued at approximately $5,444,882.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Craig A. Wheeler sold 4,116 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $15.07, for a total value of $62,028.12. Following the completion of the transaction, the president now owns 269,231 shares of the company’s stock, valued at $4,057,311.17. The disclosure for this sale can be found here. Insiders sold a total of 79,663 shares of company stock valued at $1,414,498 over the last 90 days. 4.40% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of MNTA. BlackRock Inc. boosted its stake in Momenta Pharmaceuticals by 64,825.8% in the 1st quarter. BlackRock Inc. now owns 8,774,070 shares of the biotechnology company’s stock worth $117,134,000 after purchasing an additional 8,760,556 shares during the period. State Street Corp boosted its stake in Momenta Pharmaceuticals by 30.8% in the 1st quarter. State Street Corp now owns 2,455,449 shares of the biotechnology company’s stock worth $32,776,000 after purchasing an additional 577,504 shares during the period. Acadian Asset Management LLC boosted its stake in Momenta Pharmaceuticals by 322.9% in the 2nd quarter. Acadian Asset Management LLC now owns 696,138 shares of the biotechnology company’s stock worth $11,762,000 after purchasing an additional 531,525 shares during the period. Renaissance Technologies LLC boosted its position in shares of Momenta Pharmaceuticals by 186.4% during the 2nd quarter. Renaissance Technologies LLC now owns 797,400 shares of the biotechnology company’s stock valued at $13,476,000 after acquiring an additional 519,000 shares during the last quarter. Finally, FMR LLC boosted its position in shares of Momenta Pharmaceuticals by 3.3% during the 2nd quarter. FMR LLC now owns 11,125,193 shares of the biotechnology company’s stock valued at $188,015,000 after acquiring an additional 351,743 shares during the last quarter. Institutional investors and hedge funds own 93.80% of the company’s stock.
Momenta Pharmaceuticals (NASDAQ MNTA) traded up 2.84% during trading on Wednesday, hitting $14.50. 541,853 shares of the stock were exchanged. The company has a 50-day moving average price of $15.61 and a 200 day moving average price of $15.81. Momenta Pharmaceuticals has a 1-year low of $10.75 and a 1-year high of $19.90. The firm’s market capitalization is $1.07 billion.
Momenta Pharmaceuticals (NASDAQ:MNTA) last announced its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($0.50) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.50). The company had revenue of $23.57 million during the quarter, compared to the consensus estimate of $24.64 million. Momenta Pharmaceuticals had a negative return on equity of 12.28% and a negative net margin of 39.35%. The firm’s revenue was down 10.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.31) EPS. Equities analysts predict that Momenta Pharmaceuticals will post ($1.50) earnings per share for the current fiscal year.
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. The Company has developed generic version of LOVENOX (enoxaparin sodium injection) and COPAXONE (glatiramer acetate injection).
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