Momenta Pharmaceuticals (MNTA) Downgraded by ValuEngine to Hold

ValuEngine downgraded shares of Momenta Pharmaceuticals (NASDAQ:MNTA) from a buy rating to a hold rating in a report released on Friday.

MNTA has been the subject of several other research reports. Cantor Fitzgerald set a $24.00 price objective on Momenta Pharmaceuticals and gave the stock a hold rating in a report on Wednesday, October 10th. BidaskClub lowered Momenta Pharmaceuticals from a strong-buy rating to a buy rating in a report on Thursday, October 4th. Zacks Investment Research raised Momenta Pharmaceuticals from a hold rating to a buy rating and set a $18.00 price objective for the company in a report on Monday, October 15th. Finally, Stifel Nicolaus reaffirmed a buy rating and issued a $40.00 price objective on shares of Momenta Pharmaceuticals in a report on Wednesday, October 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $24.25.

Shares of MNTA opened at $12.11 on Friday. Momenta Pharmaceuticals has a one year low of $11.72 and a one year high of $32.20. The firm has a market capitalization of $975.02 million, a P/E ratio of -10.09 and a beta of 1.75.

Momenta Pharmaceuticals (NASDAQ:MNTA) last issued its quarterly earnings data on Thursday, August 9th. The biotechnology company reported ($0.91) EPS for the quarter, missing the Thomson Reuters’ 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 the consensus estimate of $15.83 million. During the same period in the previous year, the firm earned ($0.50) EPS. The business’s revenue was down 44.9% on a year-over-year basis. On average, analysts forecast that Momenta Pharmaceuticals will post -2.3 EPS for the current fiscal year.

In other Momenta Pharmaceuticals news, CEO Craig A. Wheeler sold 2,601 shares of the business’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $28.74, for a total transaction of $74,752.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Elizabeth Stoner sold 4,152 shares of the business’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $27.33, for a total value of $113,474.16. Following the sale, the director now directly owns 33,791 shares of the company’s stock, valued at approximately $923,508.03. The disclosure for this sale can be found here. Insiders have sold 12,589 shares of company stock valued at $345,785 in the last three months. 4.80% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in MNTA. RA Capital Management LLC bought a new stake in Momenta Pharmaceuticals during the second quarter valued at about $75,717,000. BlackRock Inc. grew its holdings in Momenta Pharmaceuticals by 8.6% during the second quarter. BlackRock Inc. now owns 11,681,112 shares of the biotechnology company’s stock valued at $238,880,000 after purchasing an additional 925,524 shares during the period. Janus Henderson Group PLC grew its holdings in 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 valued at $45,174,000 after purchasing an additional 336,859 shares during the period. First Trust Advisors LP bought a new stake in Momenta Pharmaceuticals during the second quarter valued at about $2,600,000. Finally, FMR LLC grew its holdings in Momenta Pharmaceuticals by 1.0% during the second quarter. FMR LLC now owns 11,633,835 shares of the biotechnology company’s stock valued at $237,912,000 after purchasing an additional 109,583 shares during the period. 95.97% of the stock is owned by institutional investors and hedge funds.

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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