Momenta Pharmaceuticals (MNTA) Cut to Hold at BidaskClub

BidaskClub lowered shares of Momenta Pharmaceuticals (NASDAQ:MNTA) from a buy rating to a hold rating in a report issued on Friday morning.

A number of other equities analysts also recently commented on the company. Cantor Fitzgerald set a $24.00 target price on Momenta Pharmaceuticals and gave the company a hold rating in a research note on Wednesday. Stifel Nicolaus restated a buy rating and issued a $40.00 target price on shares of Momenta Pharmaceuticals in a research note on Wednesday. Zacks Investment Research upgraded Momenta Pharmaceuticals from a strong sell rating to a hold rating in a research note on Monday, October 8th. Finally, ValuEngine upgraded Momenta Pharmaceuticals from a buy rating to a strong-buy rating in a research note on Tuesday, July 10th. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $26.33.

NASDAQ:MNTA traded down $2.51 during mid-day trading on Friday, reaching $16.10. The stock had a trading volume of 2,015,007 shares, compared to its average volume of 677,086. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of -13.42 and a beta of 1.75. Momenta Pharmaceuticals has a 1-year low of $11.85 and a 1-year high of $32.20.

Momenta Pharmaceuticals (NASDAQ:MNTA) last posted its quarterly earnings results on Thursday, August 9th. The biotechnology company reported ($0.91) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.41) by ($0.50). Momenta Pharmaceuticals had a negative return on equity of 40.55% and a negative net margin of 128.49%. The firm had revenue of $13.00 million during the quarter, compared to analyst estimates of $15.83 million. During the same quarter last year, the business posted ($0.50) earnings per share. The firm’s revenue for the quarter was down 44.9% on a year-over-year basis. As a group, analysts expect that Momenta Pharmaceuticals will post -2.02 earnings per share for the current fiscal year.

In other Momenta Pharmaceuticals news, SVP Young Kwon sold 35,164 shares of Momenta Pharmaceuticals stock in a transaction that occurred on Wednesday, July 18th. The stock was sold at an average price of $29.33, for a total value of $1,031,360.12. Following the completion of the transaction, the senior vice president now directly owns 122,624 shares in the company, valued at $3,596,561.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Craig A. Wheeler sold 1,773 shares of Momenta Pharmaceuticals stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $26.06, for a total value of $46,204.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,753 shares of company stock valued at $1,377,146. 4.80% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of MNTA. RA Capital Management LLC acquired a new position in shares of Momenta Pharmaceuticals during the second quarter worth approximately $75,717,000. BlackRock Inc. boosted its position in shares of Momenta Pharmaceuticals by 8.6% during the second quarter. BlackRock Inc. now owns 11,681,112 shares of the biotechnology company’s stock worth $238,880,000 after buying an additional 925,524 shares during the period. Eventide Asset Management LLC acquired a new position in shares of Momenta Pharmaceuticals during the first quarter worth approximately $7,260,000. Janus Henderson Group PLC boosted its position in shares of Momenta Pharmaceuticals by 18.0% during the second quarter. Janus Henderson Group PLC now owns 2,208,986 shares of the biotechnology company’s stock worth $45,174,000 after buying an additional 336,859 shares during the period. Finally, First Trust Advisors LP acquired a new position in shares of Momenta Pharmaceuticals during the second quarter worth approximately $2,600,000. Institutional investors and hedge funds own 96.46% of the company’s stock.

Momenta Pharmaceuticals Company Profile

Momenta Pharmaceuticals, Inc, a biotechnology company, focuses on developing generic versions of complex drugs, biosimilars, and novel therapeutics for autoimmune diseases in the United States. The company's complex generics programs include Enoxaparin sodium injection, a generic version of Lovenox that is indicated for the prevention and treatment of deep vein thrombosis, as well as supports the treatment of acute coronary syndromes; GLATOPA, a generic version of once-daily COPAXONE for the treatment of patients with relapsing-remitting multiple sclerosis; and GLATOPA, a generic product candidate for three-times-weekly COPAXONE.

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