Momenta Pharmaceuticals Inc. (MNTA) Lifted to Overweight at Barclays PLC
Momenta Pharmaceuticals Inc. (NASDAQ:MNTA) was upgraded by Barclays PLC from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Tuesday.
Several other equities research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Momenta Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, October 5th. Maxim Group cut shares of Momenta Pharmaceuticals from a “hold” rating to a “sell” rating and set a $6.00 target price on the stock. in a report on Wednesday, September 7th. Cowen and Company restated a “hold” rating on shares of Momenta Pharmaceuticals in a report on Sunday, August 7th. JPMorgan Chase & Co. dropped their target price on shares of Momenta Pharmaceuticals from $21.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, August 5th. Finally, Brean Capital set a $19.00 target price on shares of Momenta Pharmaceuticals and gave the stock a “buy” rating in a report on Friday, August 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. Momenta Pharmaceuticals has an average rating of “Hold” and an average target price of $16.00.
Momenta Pharmaceuticals (NASDAQ:MNTA) opened at 11.765 on Tuesday. The company’s market cap is $807.04 million. The stock has a 50 day moving average of $11.92 and a 200 day moving average of $11.00. Momenta Pharmaceuticals has a 12-month low of $7.86 and a 12-month high of $18.85.
Momenta Pharmaceuticals (NASDAQ:MNTA) last issued its earnings results on Thursday, August 4th. The biotechnology company reported ($0.31) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.32) by $0.01. Momenta Pharmaceuticals had a negative net margin of 126.37% and a negative return on equity of 28.76%. The company had revenue of $26.40 million for the quarter, compared to analysts’ expectations of $23.55 million. During the same quarter last year, the company posted ($0.04) earnings per share. The firm’s quarterly revenue was down 41.2% on a year-over-year basis. Equities analysts expect that Momenta Pharmaceuticals will post ($1.25) earnings per share for the current year.
In related news, President Craig A. Wheeler sold 5,880 shares of Momenta Pharmaceuticals stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $12.02, for a total transaction of $70,677.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 6.10% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MNTA. Fiera Capital Corp purchased a new position in Momenta Pharmaceuticals during the second quarter worth $26,019,000. Sector Gamma AS increased its stake in shares of Momenta Pharmaceuticals by 83.8% in the first quarter. Sector Gamma AS now owns 780,313 shares of the biotechnology company’s stock worth $7,210,000 after buying an additional 355,777 shares in the last quarter. FMR LLC increased its stake in shares of Momenta Pharmaceuticals by 2.6% in the second quarter. FMR LLC now owns 10,632,879 shares of the biotechnology company’s stock worth $114,835,000 after buying an additional 265,713 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of Momenta Pharmaceuticals by 4.5% in the second quarter. BlackRock Fund Advisors now owns 4,922,956 shares of the biotechnology company’s stock worth $53,168,000 after buying an additional 210,607 shares in the last quarter. Finally, Palo Alto Investors LLC increased its stake in shares of Momenta Pharmaceuticals by 10.9% in the second quarter. Palo Alto Investors LLC now owns 1,629,076 shares of the biotechnology company’s stock worth $17,594,000 after buying an additional 160,300 shares in the last quarter. Institutional investors own 81.08% of the company’s stock.
About Momenta Pharmaceuticals
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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