Momenta Pharmaceuticals (NASDAQ:MNTA) Cut to “Buy” at BidaskClub
MNTA has been the topic of several other reports. Goldman Sachs Group began coverage on Momenta Pharmaceuticals in a report on Thursday, March 12th. They issued a neutral rating and a $29.00 price objective on the stock. Wells Fargo & Co lifted their price objective on Momenta Pharmaceuticals from $40.00 to $48.00 and gave the stock an overweight rating in a report on Monday, June 15th. JPMorgan Chase & Co. lifted their price objective on Momenta Pharmaceuticals from $37.00 to $42.00 and gave the stock an overweight rating in a report on Tuesday, June 16th. ValuEngine upgraded Momenta Pharmaceuticals from a hold rating to a buy rating in a report on Thursday, April 2nd. Finally, HC Wainwright reissued a buy rating and issued a $46.00 target price (up from $40.00) on shares of Momenta Pharmaceuticals in a research note on Tuesday, June 16th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Momenta Pharmaceuticals currently has an average rating of Buy and an average target price of $43.00.
NASDAQ:MNTA opened at $32.27 on Wednesday. Momenta Pharmaceuticals has a 52 week low of $9.51 and a 52 week high of $39.88. The stock has a market capitalization of $3.80 billion, a PE ratio of -11.52 and a beta of 1.51. The stock’s 50-day moving average price is $33.41 and its 200-day moving average price is $28.98.
In other news, CAO Agnieszka Cieplinska sold 921 shares of Momenta Pharmaceuticals stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $29.57, for a total transaction of $27,233.97. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Santiago Arroyo sold 1,614 shares of Momenta Pharmaceuticals stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $28.96, for a total transaction of $46,741.44. Following the sale, the senior vice president now directly owns 30,720 shares in the company, valued at approximately $889,651.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 107,851 shares of company stock worth $3,443,098. Corporate insiders own 3.40% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. FDx Advisors Inc. acquired a new stake in shares of Momenta Pharmaceuticals in the first quarter valued at approximately $37,000. Meeder Asset Management Inc. grew its position in shares of Momenta Pharmaceuticals by 362.0% in the fourth quarter. Meeder Asset Management Inc. now owns 2,421 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 1,897 shares during the last quarter. GQ Asset Management LLC acquired a new stake in shares of Momenta Pharmaceuticals in the first quarter valued at approximately $53,000. US Bancorp DE grew its position in shares of Momenta Pharmaceuticals by 1,036.0% in the first quarter. US Bancorp DE now owns 2,113 shares of the biotechnology company’s stock valued at $57,000 after purchasing an additional 1,927 shares during the last quarter. Finally, Mutual of America Capital Management LLC grew its position in shares of Momenta Pharmaceuticals by 23.7% in the first quarter. Mutual of America Capital Management LLC now owns 5,018 shares of the biotechnology company’s stock valued at $136,000 after purchasing an additional 963 shares during the last quarter. 96.29% of the stock is currently owned by hedge funds and other institutional investors.
Momenta Pharmaceuticals Company Profile
Momenta Pharmaceuticals, Inc, a biotechnology company, focuses on the discovery and development of novel biologic therapies for the treatment of rare immune-mediated diseases in the United States. Its novel therapeutic programs include M281, a fully-human anti-neonatal Fc receptor (FcRn), aglycosylated immunoglobulin G (IgG1), and monoclonal antibody to reduce circulating IgG antibodies by blocking endogenous IgG recycling via FcRn; M230, a recombinant trivalent human IgG1 Fc multimer containing three IgG Fc regions joined to maximize activity; and M254, a hyper-sialylated immunoglobulin to treat various inflammatory diseases, including idiopathic thrombocytopenic purpura and chronic inflammatory demyelinating polyneuropathy.
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