BidaskClub lowered shares of Momenta Pharmaceuticals (NASDAQ:MNTA) from a buy rating to a hold rating in a report released on Thursday morning.
MNTA has been the subject of a number of other research reports. ValuEngine downgraded Momenta Pharmaceuticals from a hold rating to a sell rating in a research report on Friday, October 6th. Cowen set a $15.00 target price on Momenta Pharmaceuticals and gave the stock a hold rating in a research report on Wednesday, November 1st. Zacks Investment Research upgraded Momenta Pharmaceuticals from a hold rating to a buy rating and set a $20.00 target price for the company in a research report on Wednesday, October 4th. JPMorgan Chase & Co. restated a hold rating and set a $14.00 target price on shares of Momenta Pharmaceuticals in a research report on Thursday, October 5th. Finally, Robert W. Baird downgraded Momenta Pharmaceuticals from a buy rating to a hold rating and dropped their target price for the stock from $22.00 to $15.00 in a research report on Friday, October 6th. Two analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. Momenta Pharmaceuticals currently has an average rating of Hold and a consensus price target of $15.00.
Shares of Momenta Pharmaceuticals (NASDAQ:MNTA) traded up $1.25 on Thursday, reaching $16.40. The company’s stock had a trading volume of 2,336,034 shares, compared to its average volume of 751,996. Momenta Pharmaceuticals has a 52-week low of $11.85 and a 52-week high of $19.90. The company has a market cap of $1,157.26, a P/E ratio of -20.50 and a beta of 1.66.
Momenta Pharmaceuticals (NASDAQ:MNTA) last issued its quarterly earnings data on Wednesday, November 1st. The biotechnology company reported ($0.44) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 firm had revenue of $24.09 million during the quarter, compared to the consensus estimate of $29.58 million. During the same quarter in the previous year, the company posted ($0.26) EPS. The business’s revenue for the quarter was down 17.3% compared to the same quarter last year. sell-side analysts expect that Momenta Pharmaceuticals will post -1.16 earnings per share for the current fiscal year.
In related news, CEO Craig A. Wheeler sold 35,666 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $14.11, for a total value of $503,247.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Elizabeth Stoner sold 5,500 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $13.10, for a total value of $72,050.00. Following the completion of the sale, the director now owns 13,240 shares of the company’s stock, valued at approximately $173,444. The disclosure for this sale can be found here. Insiders sold 49,505 shares of company stock valued at $685,923 in the last quarter. 4.40% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund increased its holdings in Momenta Pharmaceuticals by 9.4% in the second quarter. New York State Common Retirement Fund now owns 286,453 shares of the biotechnology company’s stock valued at $4,841,000 after purchasing an additional 24,715 shares during the last quarter. BlackRock Inc. increased its holdings in Momenta Pharmaceuticals by 7.1% in the second quarter. BlackRock Inc. now owns 9,400,485 shares of the biotechnology company’s stock valued at $158,868,000 after purchasing an additional 626,415 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Momenta Pharmaceuticals by 12.0% in the third quarter. Principal Financial Group Inc. now owns 606,700 shares of the biotechnology company’s stock valued at $11,224,000 after purchasing an additional 65,014 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Momenta Pharmaceuticals in the third quarter valued at about $1,141,000. Finally, Schwab Charles Investment Management Inc. increased its holdings in Momenta Pharmaceuticals by 22.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 358,055 shares of the biotechnology company’s stock valued at $6,052,000 after purchasing an additional 64,817 shares during the last quarter. Institutional investors and hedge funds own 93.40% of the company’s stock.
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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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