Momenta Pharmaceuticals Inc. (MNTA) Lowered to Hold at Zacks Investment Research
Momenta Pharmaceuticals Inc. (NASDAQ:MNTA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
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 research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. decreased their target price on Momenta Pharmaceuticals from $21.00 to $15.00 and set an “overweight” rating for the company in a research note on Friday, August 5th. Cowen and Company reaffirmed a “hold” rating on shares of Momenta Pharmaceuticals in a research note on Sunday, August 7th. Brean Capital set a $19.00 price target on Momenta Pharmaceuticals and gave the company a “buy” rating in a research report on Friday, August 5th. Finally, Maxim Group lowered Momenta Pharmaceuticals from a “hold” rating to a “sell” rating and set a $6.00 price target for the company. in a research report on Wednesday, September 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. Momenta Pharmaceuticals has an average rating of “Hold” and an average target price of $16.00.
Momenta Pharmaceuticals (NASDAQ:MNTA) traded up 0.94% on Wednesday, hitting $11.81. 160,681 shares of the stock were exchanged. Momenta Pharmaceuticals has a 52 week low of $7.86 and a 52 week high of $18.85. The company’s 50-day moving average is $11.96 and its 200-day moving average is $10.92. The company’s market cap is $810.13 million.
Momenta Pharmaceuticals (NASDAQ:MNTA) last announced its earnings results 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. Momenta Pharmaceuticals had a negative return on equity of 28.76% and a negative net margin of 126.37%. The business earned $26.40 million during the quarter, compared to analysts’ expectations of $23.55 million. During the same quarter last year, the business posted ($0.04) earnings per share. The company’s quarterly revenue was down 41.2% on a year-over-year basis. On average, analysts predict that Momenta Pharmaceuticals will post ($1.25) earnings per share for the current year.
In other Momenta Pharmaceuticals news, President Craig A. Wheeler sold 5,880 shares of the firm’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $12.02, for a total transaction of $70,677.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 6.10% of the company’s stock.
Large investors have recently bought and sold shares of the company. Pacad Investment Ltd. purchased a new stake in Momenta Pharmaceuticals during the second quarter worth $103,000. Dynamic Technology Lab Private Ltd purchased a new stake in Momenta Pharmaceuticals during the second quarter worth $109,000. Jane Street Group LLC purchased a new stake in Momenta Pharmaceuticals during the second quarter worth $109,000. Mason Street Advisors LLC purchased a new stake in Momenta Pharmaceuticals during the second quarter worth $134,000. Finally, BlackRock Inc. increased its stake in Momenta Pharmaceuticals by 220.1% in the second quarter. BlackRock Inc. now owns 13,446 shares of the biotechnology company’s stock worth $145,000 after buying an additional 9,245 shares during the period. 81.08% of the stock is owned by institutional investors.
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. 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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