Momenta Pharmaceuticals Inc. (MNTA) Coverage Initiated by Analysts at Aegis
Aegis assumed coverage on shares of Momenta Pharmaceuticals Inc. (NASDAQ:MNTA) in a research note published on Tuesday morning. The firm issued a hold rating and a $15.00 target price on the biotechnology company’s stock.
MNTA has been the topic of a number of other reports. Zacks Investment Research cut Momenta Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, October 5th. JPMorgan Chase & Co. decreased their price target on Momenta Pharmaceuticals from $21.00 to $15.00 and set an overweight rating on the stock in a report on Friday, August 5th. Maxim Group reissued a sell rating and set a $6.00 price target on shares of Momenta Pharmaceuticals in a report on Thursday, November 3rd. Finally, Barclays PLC raised Momenta Pharmaceuticals from an equal weight rating to an overweight rating and raised their price target for the company from $13.00 to $19.00 in a report on Tuesday, October 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $16.10.
Momenta Pharmaceuticals (NASDAQ:MNTA) traded up 0.184% during trading on Tuesday, hitting $13.575. The stock had a trading volume of 126,602 shares. Momenta Pharmaceuticals has a 52-week low of $7.86 and a 52-week high of $18.26. The firm’s market cap is $936.09 million. The company has a 50-day moving average of $12.20 and a 200 day moving average of $11.63.
Momenta Pharmaceuticals (NASDAQ:MNTA) last released its earnings results on Wednesday, November 2nd. The biotechnology company reported ($0.26) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.29) by $0.03. The company had revenue of $299.14 million for the quarter, compared to the consensus estimate of $25.68 million. Momenta Pharmaceuticals had a negative return on equity of 26.55% and a negative net margin of 93.75%. Momenta Pharmaceuticals’s quarterly revenue was up 2067.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.44) earnings per share. On average, equities research analysts predict that Momenta Pharmaceuticals will post ($1.15) earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in the stock. Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of Momenta Pharmaceuticals during the third quarter worth about $135,000. Candriam Luxembourg S.C.A. purchased a new stake in shares of Momenta Pharmaceuticals during the third quarter worth about $818,000. Patten Group Inc. purchased a new stake in shares of Momenta Pharmaceuticals during the third quarter worth about $148,000. Virtus ETF Advisers LLC raised its stake in shares of Momenta Pharmaceuticals by 14.4% in the third quarter. Virtus ETF Advisers LLC now owns 55,093 shares of the biotechnology company’s stock worth $644,000 after buying an additional 6,942 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Momenta Pharmaceuticals during the third quarter worth about $525,000. Hedge funds and other institutional investors own 81.62% of the company’s stock.
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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