Momenta Pharmaceuticals (NASDAQ:MNTA) had its price objective upped by HC Wainwright from $46.00 to $50.00 in a report published on Wednesday morning, The Fly reports. The brokerage currently has a buy rating on the biotechnology company’s stock.
Other equities research analysts have also recently issued reports about the stock. Stifel Nicolaus reissued a buy rating on shares of Momenta Pharmaceuticals in a research note on Wednesday, June 24th. JPMorgan Chase & Co. raised their price target on shares of Momenta Pharmaceuticals from $37.00 to $42.00 and gave the stock an overweight rating in a research note on Tuesday, June 16th. Cantor Fitzgerald raised their price target on shares of Momenta Pharmaceuticals from $30.00 to $38.00 and gave the stock a neutral rating in a research note on Tuesday, June 16th. They noted that the move was a valuation call. SunTrust Banks raised shares of Momenta Pharmaceuticals to a buy rating in a research note on Thursday, June 18th. Finally, ValuEngine cut shares of Momenta Pharmaceuticals from a buy rating to a hold rating in a research note on Thursday, July 2nd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $43.44.
Shares of NASDAQ MNTA opened at $29.49 on Wednesday. Momenta Pharmaceuticals has a 52 week low of $10.71 and a 52 week high of $39.88. The company’s 50-day moving average price is $33.92 and its 200 day moving average price is $30.78.
Momenta Pharmaceuticals (NASDAQ:MNTA) last issued its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.34) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.48) by $0.14. The firm had revenue of $8.89 million for the quarter, compared to analysts’ expectations of $4.08 million. Momenta Pharmaceuticals had a negative net margin of 994.16% and a negative return on equity of 80.37%. As a group, equities research analysts expect that Momenta Pharmaceuticals will post -1.61 earnings per share for the current year.
In related news, CAO Agnieszka Cieplinska sold 940 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $30.15, for a total value of $28,341.00. Following the transaction, the chief accounting officer now owns 6,311 shares in the company, valued at $190,276.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Ian Fier sold 1,087 shares of Momenta Pharmaceuticals stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $33.95, for a total transaction of $36,903.65. Following the sale, the insider now owns 59,412 shares in the company, valued at approximately $2,017,037.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 215,176 shares of company stock worth $7,091,801. Insiders own 3.40% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of MNTA. Norges Bank purchased a new stake in shares of Momenta Pharmaceuticals during the fourth quarter valued at approximately $43,646,000. Maverick Capital Ltd. purchased a new stake in shares of Momenta Pharmaceuticals during the first quarter valued at approximately $59,053,000. Redmile Group LLC raised its stake in shares of Momenta Pharmaceuticals by 59.8% during the first quarter. Redmile Group LLC now owns 5,175,008 shares of the biotechnology company’s stock valued at $140,760,000 after purchasing an additional 1,937,308 shares during the period. RA Capital Management L.P. raised its stake in shares of Momenta Pharmaceuticals by 75.1% during the first quarter. RA Capital Management L.P. now owns 2,531,445 shares of the biotechnology company’s stock valued at $68,855,000 after purchasing an additional 1,085,644 shares during the period. Finally, BlackRock Inc. grew its position in shares of Momenta Pharmaceuticals by 5.4% during the first quarter. BlackRock Inc. now owns 18,217,622 shares of the biotechnology company’s stock worth $495,520,000 after buying an additional 933,884 shares in the last quarter. Institutional investors own 96.92% of the company’s stock.
About Momenta Pharmaceuticals
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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