Sectoral Asset Management Inc raised its holdings in shares of Momenta Pharmaceuticals, Inc. (NASDAQ:MNTA) by 24.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 372,499 shares of the biotechnology company’s stock after acquiring an additional 73,099 shares during the period. Sectoral Asset Management Inc owned about 0.49% of Momenta Pharmaceuticals worth $6,891,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. FMR LLC grew its position in Momenta Pharmaceuticals by 3.3% during the second 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. BlackRock Inc. grew its position in Momenta Pharmaceuticals by 7.1% during the second quarter. BlackRock Inc. now owns 9,400,485 shares of the biotechnology company’s stock valued at $158,868,000 after acquiring an additional 626,415 shares during the last quarter. Vanguard Group Inc. grew its position in Momenta Pharmaceuticals by 4.9% during the second quarter. Vanguard Group Inc. now owns 6,243,767 shares of the biotechnology company’s stock valued at $105,519,000 after acquiring an additional 290,090 shares during the last quarter. State Street Corp grew its position in Momenta Pharmaceuticals by 8.1% during the second quarter. State Street Corp now owns 2,653,427 shares of the biotechnology company’s stock valued at $44,842,000 after acquiring an additional 197,978 shares during the last quarter. Finally, Palo Alto Investors LLC grew its position in Momenta Pharmaceuticals by 1.6% during the second quarter. Palo Alto Investors LLC now owns 1,787,576 shares of the biotechnology company’s stock valued at $30,210,000 after acquiring an additional 28,200 shares during the last quarter. Institutional investors and hedge funds own 93.45% of the company’s stock.
In related news, President Craig A. Wheeler sold 35,667 shares of the firm’s stock in a transaction 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 sale, the president now owns 286,121 shares of the company’s stock, valued at $5,444,882.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 44,006 shares of company stock valued at $789,369 in the last ninety days. 4.40% of the stock is currently owned by insiders.
A number of analysts have recently weighed in on the company. ValuEngine lowered Momenta Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, October 6th. BidaskClub lowered Momenta Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Cowen set a $15.00 price objective on Momenta Pharmaceuticals and gave the company a “hold” rating in a research note on Wednesday, November 1st. Zacks Investment Research raised Momenta Pharmaceuticals from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Wednesday, October 4th. Finally, J P Morgan Chase & Co reissued a “hold” rating and set a $14.00 price objective on shares of Momenta Pharmaceuticals in a research note on Thursday, October 5th. Three analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $15.00.
Shares of Momenta Pharmaceuticals, Inc. (MNTA) opened at $12.40 on Friday. Momenta Pharmaceuticals, Inc. has a 52 week low of $11.85 and a 52 week high of $19.90.
Momenta Pharmaceuticals (NASDAQ:MNTA) last announced its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.03. Momenta Pharmaceuticals had a negative return on equity of 16.20% and a negative net margin of 55.61%. The company had revenue of $24.09 million during the quarter, compared to analyst estimates of $29.58 million. During the same quarter last year, the firm posted ($0.26) earnings per share. The firm’s revenue was down 17.3% on a year-over-year basis. sell-side analysts expect that Momenta Pharmaceuticals, Inc. will post -1.16 EPS for the current year.
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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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