Momenta Pharmaceuticals (NASDAQ:MNTA) Research Coverage Started at Wells Fargo & Co

Wells Fargo & Co assumed coverage on shares of Momenta Pharmaceuticals (NASDAQ:MNTA) in a research note published on Wednesday, Briefing.com Automated Import reports. The firm issued an outperform rating on the biotechnology company’s stock.

A number of other equities analysts have also issued reports on the company. Stifel Nicolaus reaffirmed a buy rating and issued a $29.00 target price on shares of Momenta Pharmaceuticals in a research report on Thursday, October 24th. Piper Jaffray Companies set a $35.00 target price on Momenta Pharmaceuticals and gave the company a buy rating in a research report on Tuesday, September 17th. ValuEngine raised Momenta Pharmaceuticals from a hold rating to a buy rating in a research report on Friday, November 1st. HC Wainwright assumed coverage on Momenta Pharmaceuticals in a report on Wednesday, September 25th. They issued a buy rating and a $24.00 price target for the company. Finally, BidaskClub upgraded Momenta Pharmaceuticals from a buy rating to a strong-buy rating in a report on Thursday, October 31st. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Momenta Pharmaceuticals has a consensus rating of Buy and an average price target of $22.53.

Momenta Pharmaceuticals stock traded up $0.25 during midday trading on Wednesday, reaching $16.41. 763,600 shares of the company were exchanged, compared to its average volume of 521,648. The firm’s 50-day simple moving average is $14.12 and its 200-day simple moving average is $12.82. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of -8.08 and a beta of 2.07. Momenta Pharmaceuticals has a 1 year low of $9.51 and a 1 year high of $16.65.

Momenta Pharmaceuticals (NASDAQ:MNTA) last released its quarterly earnings results on Thursday, October 31st. The biotechnology company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.50) by ($0.09). Momenta Pharmaceuticals had a negative return on equity of 59.82% and a negative net margin of 361.66%. The company had revenue of $6.40 million for the quarter, compared to analyst estimates of $5.24 million. During the same period last year, the firm posted ($0.65) earnings per share. The business’s revenue was down 57.0% on a year-over-year basis. On average, sell-side analysts expect that Momenta Pharmaceuticals will post -2.59 earnings per share for the current fiscal year.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

In other news, insider Alejandra Carvajal sold 6,814 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $14.40, for a total value of $98,121.60. Following the completion of the sale, the insider now directly owns 5,015 shares in the company, valued at approximately $72,216. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Santiago Arroyo sold 26,954 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $15.91, for a total value of $428,838.14. The disclosure for this sale can be found here. Insiders sold a total of 74,063 shares of company stock valued at $1,110,015 over the last quarter. Company insiders own 3.40% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of MNTA. Oregon Public Employees Retirement Fund grew its stake in Momenta Pharmaceuticals by 5.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 39,254 shares of the biotechnology company’s stock worth $489,000 after buying an additional 2,074 shares during the last quarter. CWM Advisors LLC grew its stake in shares of Momenta Pharmaceuticals by 17.2% in the second quarter. CWM Advisors LLC now owns 13,780 shares of the biotechnology company’s stock worth $172,000 after purchasing an additional 2,020 shares in the last quarter. Peregrine Capital Management LLC bought a new position in shares of Momenta Pharmaceuticals in the second quarter worth $10,025,000. Arizona State Retirement System grew its stake in shares of Momenta Pharmaceuticals by 0.7% in the second quarter. Arizona State Retirement System now owns 152,967 shares of the biotechnology company’s stock worth $1,904,000 after purchasing an additional 1,003 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC bought a new position in shares of Momenta Pharmaceuticals in the second quarter worth $187,000. Hedge funds and other institutional investors own 96.30% of the company’s stock.

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.

Featured Story: Why do analysts give a neutral rating?

Analyst Recommendations for Momenta Pharmaceuticals (NASDAQ:MNTA)

Leave a Reply

Your email address will not be published. Required fields are marked *

*